The company “ADMIE (IPTO) HOLDING S.A.” (or “Company”), informs that its Affiliate, IPTO S.A., announces that the construction works for the substations of the electrical interconnection between Crete and Peloponnese will be starting immediately, after the selection of the tenderer for the project. IPTO S.A. announces that TERNA S.A. is the successful bidder and has undertaken the construction of the new Substation in the South East Peloponnese, the upgrading and extension of the existing substation in the Chania area in Crete, for a total consideration of € 18.5 million.


Following the evaluation of the financial offers of the four bidders (as they were all deemed acceptable from a technical point of view), TERNA S.A. submitted the lowest bid. The offers that were submitted for the project in a ranking order are as follows:

  1. SIEYUAN-GEDI Consortium (China)
  2. Mytilineos Group
  3. TOMI S.A
  4. TERNA S.A

After the successful completion on September 21st of the tender process for the cable sections (underwater and underground) of the Crete – Peloponnese Interconnection the tenderer was selected for the Substations. This means that the whole project enters the phase of implementation, within the timetable for completion in 2020.


This announcement is issued as a Regulated Information, in accordance with Law 3556/2007 as in force and Regulation No 596/2014 of the European Parliament and of the Council on market abuse.



Athens, September 26th, 2018