![The ADMIE grid [Photograph: EurActiv]](http://gastopower.co.uk/media/k2/items/cache/7238c2ca8515ce0395545fa66eef3120_S.jpg)
A consortium formed by Italian grid operator Terna and Italian infrastructure fund F2i SGR has submitted a binding offer for the acquisition of a 24% stake in Greek grid operator ADMIE.
The consortium – in which both parties hold an equal stake of 50% - qualified as an eligible participant on August 12 and then submitted a binding offer for the acquisition of a stake in ADMIE, in compliance with the tender procedure launched on July 12 by Public Power Corporation (PPC), in its capacity of sole owner of ADMIE, Terna said October 21.
ADMIE owns and operates the Greek national interconnected electricity transmission system, comprising of 11,529 km of transmission lines with a voltage of 66 – 400 kV and 310 high voltage substations.
France's RTE and China's State Grid International Development had also previously been shortlisted as potential acquirers for ADMIE, although RTE said it eventually didn't put forward an offer, Reuters reported.
Terna had been favourite to win the original tender for the sale of a 66% stake of the Public Power Corporation subsidiary, but the move was however then halted by the government in December 2015, Greek news website Ekathimerini.com reported.
Presenting its H1 16 results, Terna had said that “in line with the targets of the 2016–2019 strategic plan, which provides for a maximum amount of Eur200 million, Terna is exploring business opportunities in the area of international activities” which include an interest in participating in “an international tender for the privatisation of 24% of the Greek TSO” and the construction of a power line in Uruguay.