State Grid Corporation

Greece will conclude the spin-off of power grid operator ADMIE by mid-June, meeting a key term of its third international bailout, ADMIE's chief executive said on Thursday.

China's State Grid Corporation (SGCC), the world's biggest utility, on Friday signed the purchase of a minority stake in Greece's power grid operator ADMIE, China's second big investment in the debt-laden country in a matter of months.

ADMIE was fully owned by Greece's state-owned power utility Public Power Corporation (PPC).

China Machinery Engineering Corporation (CMEC) signed a memorandum of understanding on Wednesday with Greece's leading utility Public Power Corporation (PPC) to build a coal-fired plant in northern Greece.

The European Commission has long wanted the continent’s power grids to work in unison for reasons of efficiency and supply security, so far to little avail, but a regional power network could soon be a reality, courtesy of State Grid Corporation of China.

By Chryssa Liaggou

The tender for the sale of Greece’s Independent Power Transmission Operator (ADMIE) appears to have changed course since it seems the State Grid Corporation of China is set to buy a sizable stake in a vehicle controlling Italian operator Terna.