The second phase of the tender for the sale of a 20% stake of the special purpose company "Ariadne Interconnection S.P.S.A." begins today. Bidders will be able to submit their financial offers until the end of April. The company is a wholly-owned subsidiary of IPTO (Independent Power Transmission Operator) and is responsible for the implementation of the Attica-Crete electricity interconnection project.
Following the decision of the Regulatory Authority for Energy, Waste and Water (RAEWW), which approved the eligibility of the schemes which had expressed their interest during the first phase of the tender (Expression of Interest), and the subsequent signing of the necessary Confidentiality Agreements, IPTO now proceeds with the sending of the Request for Binding Offers (RfBO).
The invitation provides detailed instructions for the execution of the second phase of the tender. Bidders will gain access to the Virtual Data Room (VDR) created for this purpose, upon the acceptance of access conditions. The VDR contains technical and financial data of the company, along with necessary materials for the preparation of the binding financial offers.
Candidates can submit their bids until the end of April, after which time IPTO will commence the evaluation process, expected to be concluded within Q2 2024.
The Crete-Attica electricity interconnection
The Crete-Attica electricity interconnection marks Greece's largest and most complex electricity transmission project. It involves the interconnection of Crete to the mainland system (Attica) with a 1GW transmission capacity link, utilizing direct current (DC) technology. The project is one of the few worldwide employing innovative VSC (Voltage Source Converters) technology for AC to DC conversion and ranks among the world's top three in terms of sea depth.
Scheduled for commercial operation in 2025, the project's main building facilities are nearing completion. Future activities include the transfer and installation of transformers for the Converter Station and the valves for the conversion of the alternating to direct current as well as works on overhead transmission lines for the connection to the National Power Transmission System. The construction of the new 150 kV GIS, the ancillary buildings and other landscaping works are also proceeding at an intensive pace.
Upon the completion of the project and in conjunction with the first interconnection between Peloponnese and Crete, operational since summer 2021, the island's energy isolation will be lifted, ensuring energy security without the operation or the use of conventional units. This will reduce electricity generation costs, improve environmental footprint, and enhance the quality of electricity supply.
Furthermore, the island is poised to become an energy hub, especially with the prospective extension of the interconnection to Cyprus and Israel, paving the way for further "green" development by creating a 2.5 GW of electrical space for onshore and offshore renewable energy projects.
Dyrrachiou 89 & Kifissou, 104 43 Athina
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