ADMIE announces capital increase of one billion euros for grid expansion

The Independent Power Transmission Operator (ADMIE) has initiated a capital increase program totaling 1 billion euros. As part of this, the listed company ADMIE Holdings opened a public offering on June 16, which is scheduled to conclude on June 18, aiming to raise 530 million euros. The Greek state has already committed 271 million euros to this effort using Recovery Fund resources, while Capital World Investors has joined as a cornerstone investor. Manos Manousakis, Chairman and CEO of ADMIE, stated that these funds will accelerate major infrastructure projects, including electrical interconnections for the Dodecanese and North Aegean islands, as well as the second Greece-Italy interconnection, known as GRITA 2. The technical bidding phase for the Corinth-Kos subsea cable has been completed, with evaluation currently underway. These investments are part of a broader European strategy to enhance grid connectivity, with an expected one trillion euros in investments under the upcoming EU Grids Package. The projects are intended to transition ADMIE from a national operator to a regional player in critical energy infrastructure.