The second phase of the tender for the allocation of 20% of the special purpose company "Ariadne Interconnection SA" is extended until the end of July, with the submission of the financial offers of the schemes.

The company is a 100% subsidiary of IPTO and is the implementing body of the Attica-CCrete electricity interconnection.

During the second phase of the tender, the bidders have been given access to the virtual data room (VDR) created in this regard upon acceptance of the terms of access.  The VDR contains the technical and financial data of the company, as well as such material as is deemed necessary to formulate the binding financial offers of the bidders.

It is recalled that State Grid International Development Belgium Limited and the consortium of Meridiam Europe IV A SAS and FAETHON Monopolie Anonyme S.A. are continuing in the second phase of the tender.

Binding offers from interested parties can be submitted until Friday, July 26, after which the evaluation process will begin on the part of IPTO, which is expected to be completed in 2024.

The electricity interconnection between Crete and the mainland system (Attica) with a transmission capacity of 1 GW, using direct current (DC) technology, will enter commercial operation in 2025. The project's construction phase is almost complete, and late 2024 will see the cable laying after the cabling and erection of the outdoor equipment.