North Macedonia’s MEPSO denies rumors of share sale to IPTO

North Macedonia MEPSO denies rumors share sale IPTO

Photo: Oto Zapletal from Pixabay


October 26, 2023





October 26, 2023




MEPSO, the transmission system operator of North Macedonia, claims the reports that it could let Greece’s Independent Power Transmission Operator buy a stake in ownership aren’t true. Nevertheless, major Greek energy players including state-controlled PPC have turned to the Balkans for acquisitions and business opportunities.

Just as state-owned Independent Power Transmission Operator (IPTO or Admie) was preparing earlier this month to announce that it was becoming the project promoter of the Greece-Cyprus-Israel electricity interconnection, a news report launched speculation that it may also expand to the Western Balkans. Namely, Energypress has learned from unidentified sources in North Macedonia that the Greek transmission system operator (TSO) is looking at the possibility to buy its counterpart in the neighboring country.

MEPSO, the North Macedonian TSO, has just denied the rumor. It reacted after it became a domestic political issue. VMRO-DPMNE, the main opposition party, accused the government, led by Prime Minister Dimitar Kovačevski, of endangering North Macedonia’s energy independence.

Among other points, it highlighted the fact that China’s State Grid Corp. holds a 24% share in IPTO.

IPTO would require government assistance for foreign acquisition

According to the initial article, the Greek TSO has proposed to acquire a part of MEPSO, which the Government of North Macedonia backed, as did the United States. Such a deal would serve as a basis for IPTO’s expansion in the region though it would require the involvement of the government in Athens, the report added.

The media outlet’s interpretation was that the Greek company would be able to invest directly in North Macedonia’s interconnection lines. The two sides are working on upgrading a border power transmission link – Meliti-Bitola.

North Macedonia is foothold for Greek energy companies’ northward strategy

IPTO took point in the EuroAsia Interconnector by taking over 25% in late June when the project was stuck against looming deadlines for grants from the European Union.

Other major energy companies in its home market also have outward business views, with a particular liking for Southeastern Europe. Public Power Corp. or PPC, which the government controls through a minority stake, has just completed the acquisition of Enel’s entire business in Romania. Notably, the utility also leads the consortium chosen to build North Macedonia’s first pumped storage hydropower plant – Čebren.

HELLENiQ Energy recently set a foothold in Romania and entered the renewable energy market in Cyprus.

IPTO has the responsibility to make Greece a globally significant electricity transmission hub with tentacles stretching from Saudi Arabia to Poland. In the meantime, it is working on setting up and boosting interconnections across its neighborhood and with its own remote islands.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

dusan zivkovic eps general manager elektroprivreda srbije

Dušan Živković appointed as general manager of Elektroprivreda Srbije

15 June 2024 - The Supervisory Board of the joint stock company Elektroprivreda Srbije has appointed Dušan Živković as the general manager

Rezolv secures EUR 191 million loan for Vifor wind farm in Romania

Rezolv secures EUR 291 million loan for Vifor wind farm in Romania

14 June 2024 - The beneficiary of the loans is First Looks Solutions S.R.L., project subsidiary of Rezolv Energy and Low Carbon

eps transformation plan djerdap 1

Serbia’s power utility EPS adopts Transformation Plan

14 June 2024 - By adopting the Transformation Plan, Serbia has met an important structural benchmark within the framework of the arrangement with the IMF

bulgaria NEK pumped storage hydropower batak dospat

Bulgaria’s NEK gets help to prepare construction of two large pumped storage hydropower plants

14 June 2024 - The pair of new renewable energy sources, named Batak and Dospat, will each add generation capacity of approximately 800 MW