Greek power grid operator IPTO wants to enter the Balkan market and considers to acquire a stake in MEPSO, North Macedonia’s operator.
If an agreement does go ahead, a prospect that requires the active involvement of the Greek government, then Macedonia could serve as a gateway for IPTO’s entry into the western Balkan region, to take on network upgrade and interconnection projects, definitely needed.
IPTO has already submitted an offer for a stake in MEPSO, either through a strategic agreement or a share capital increase, North Macedonian sources informed.
IPTO executives have been engaged in talks with North Macedonian government officials, MEPSO and the country’s regulatory authority covering energy for a stake in the operator, the sources added.
Besides strengthening IPTO’s standing, such a move – which would complement Greek power utility PPC’s takeover agreement for Italian group ENEL’s Romanian subsidiary ENEL Romania – promises to also bolster Greece’s geopolitical role in the Balkan region.
MEPSO also stands to benefit from an agreement with IPTO as the North Macedonian operator could make the most of the Greek operator’s stronger credit rating and gain access to EU funds for network upgrades.