The Independent Power Transmission Operator (IPTO) signed an agreement for the sale of a 20% stake in its subsidiary Ariadne Interconnection to State Grid International Development (SGID) of China on Thursday.
Ariadne Interconnection is the implementation agent for the linking of the Crete and Attica power grids.
Signing the agreement were IPTO President and CEO Manos Manousakis and SGID President Yu Jun, in the presence of officials from the Environment and Energy Ministry, the Embassy of the People’s Republic of China, the State Grid Corporation of China, and others.
The construction of the linking will be completed by the end of 2024, followed by an electrification test run. The goal is to make the interconnection commercially operative as of the summer of 2025, Manousakis said.
