State Grid Corporation of China

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.

Greece's power grid operator ADMIE has signed a nonbinding agreement with China Development Bank as it looks for fresh capital to finance infrastructure projects.

State-controlled ADMIE and China Development Bank have signed a memorandum of understanding, aiming to help the Greek operator to gain access to fresh credit, ADMIE said on Friday.

The Greek state will no longer have full control of power grid operator ADMIE, despite what the government has professed, according to the unpublished agreement between Greece and the State Grid Corporation of China.

Greece's main power utility Public Power Corporation secured shareholders' approval on Tuesday to sell part of its grid operator to the state, a final step in concluding the spin-off of the grid next month.

Asset sales are a key condition of the multi-billion-euro bailout Greece signed up to in mid-2015, its third since 2010.

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.

Greece is close to concluding a spin-off of its power grid operator ADMIE from state-controlled power utility PPC, the Energy Ministry said on Friday.

The move, a key term of the country's international bailout, will boost PPC's cash reserves by about 700 million euros in May, the ministry said in a statement.

Shareholders of Greece's electricity utility Public Power Corporation (PPC) approved late on Tuesday the transfer of a 51 percent stake in the power grid operator ADMIE, part of a spin-off scheme, which is a major term in Greece's bailout program.

Greece's four biggest lenders are concerned about the spin-off of the country's power grid operator ADMIE, a key condition of a bailout agreement between Athens and its official creditors, a banker and a government official said on Friday.

ADMIE is fully owned by Greece's state-controlled electricity utility Public Power Corporation (PPC).

Chinese enterprises are showing an increased interest in Greece, as not only does the country offer them an entry gate to the eurozone and the rest of Europe, but it's also a relatively new market for them.

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).