Acquiring 24% of ADMIE transmission system operator

On December 16, 2016, the State Grid Corporation of China, the world’s largest public utility, purchased a 24-per-cent stake in Greek Independent Power Transmission Operator, following a tender. The agreement was signed by the Chinese company and Greek Public Power Corporation, which by then fully owned the Greek operator. The agreement was endorsed by the European Commission a few months later, in May 2017. In 2019, details of the unpublished agreement came to light. It appeared that despite purchasing a minority stake, State Grid Corporation of China had guaranteed the right of first offer in case Greek Public Power Corporation decides to sell shares in future. The revelation highlighted the Chinese company’s increased role in Greek Independent Power Transmission Operator.

Greece