Reuters news, France RTE power companies, Italy Terna power company and the Hong Kong subsidiary of State grid, China State grid international development company has successfully entered Greece ADMIE grid 24% of shares a second round, its China network international development company for 320 million euros to the highest bidder.
ADMIE grid is Greece public power unit PPC Group subsidiary, in Greece has 11,365-kilometer high voltage cable network. Meanwhile, PPC has the largest distribution network, 236,290 kilometre of medium and low voltage cable network systems, as well as 13 gigawatts of power generation facilities, including lignite, natural gas, hydroelectricity and renewable, Greece the total installed capacity of 64%.
In order to ease Greece € 86 billion of debt with international creditors, PPC ADMIE grid company had to sell shares. By 2020, the PPC also holds more than 90% Greece electricity retail market share shrunk to 50%. First quarter of the year, PPC power retail market share has gone from 97.1% to 94.1% over the same period last year.
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