ADMIE stake sale edges closer

The government has opened the way for the further privatization of the Independent Power Transmission Operator (ADMIE) through a legislative adjustment to the environmental framework, though the process itself will not start before this fall.

The Environment and Energy Ministry's discussions with China's State Grid - ADMIE's strategic investor - and the main interested party, Italy's Terna, are currently on ice due to the blow caused by the pandemic to China and Italy. Meanwhile the chairman of State Grid has been replaced, and in the next few weeks the chief executive of Terna will also be replaced.

The administrative changes at the two companies involved in the privatization are forcing the ministry to start contacts and discussions from scratch, probably in June according to sources, so that common ground can be found by this fall and the concession process for an...