New energy interconnections, infrastructures and acquisitions form the framework for the emergence of Greece as a key player in the energy market of Southeast Europe, which is being reshaped mainly based on two factors: the transition to a less polluting energy mix and the reduction of the presence of Russian natural gas in the regionafter the invasion of Ukraine.

The acquisitions of PPC in Romania and the expected continuation in Bulgaria or other countries in the region and the new initiatives of ADMIE to strengthen electrical interconnections are the most important moves so far. However, the majority of large energy groups are monitoring the developments in the region looking for penetration opportunities.

In addition to the planned investments to strengthen electrical interconnections with neighboring countries, in the context of the visit of Prime Minister Mr. Kyriakos Mitsotakis to Serbia (the mission was attended by the president and managing director of ADMIE Manos Manousakiss), according to APE information, the possibility of strengthening the interconnection capacity between Greece and Serbia was discussed with executives of the Serbian EMS operator. The implementation of the project requires the cooperation of the North Macedonia administrator MEPSO in which, as it has become known, ADMIE is interested in participating as a shareholder. It appears, however, that the investment in question – like other Greek investments in North Macedonia – is being postponed until after the elections in the neighboring country.

In addition, from ADMIE’s side, after the completion and commissioning of the second interconnection with Bulgaria, new interconnections are maturing with Italy (1000 megawatts with a completion horizon of 2031), Albania (1600 MVA, until 2030 for which in a meeting with the Operator of Albania, the examination of the strengthening of the new line under development was discussed and it was decided to set up a joint technical group to examine it), North Macedonia (upgrading the existing line Thessaloniki – Bitola) and Turkey (second interconnection with an implementation horizon in 2029).

These are projects on the northern borders that complement the plans for the major interconnections (Israel – Cyprus, Saudi Arabia, Egypt) as well as the new Green Aegean Interconnector line that ends in Germany via the Adriatic Sea, which ADMIE is also developing.

PPC’s strategy for the Balkans was developed last week in Washington by the head of the company George Stassis in the context of the 5th Southeast Europe & East Med noting among other things that “with a field of activity in Greece, North Macedonia, Bulgaria, Romania, PPC has the ambition to develop more in the region”. PPC has completed the acquisition of ENEL Romania, while aiming for 1.1 gigawatt RES units in the region by 2030 to exploit economies of scale and to take advantage of the spread of wind and photovoltaics in the wider region.