The Greek government plans to sell a 49% participation in the power distribution operator HEDNO, which owns 990 km of high voltage (HV) lines 240,000 km of MV & LV lines. The company is 100% owned by the Greek state-owned power utility Public Power Corporation (PPC). The government intends to use the proceeds of the sale to strengthen the finances of PPC, which is burdened with €2.8 of unpaid bills.
In addition, Greece might sell in 2020 an additional stake in the transport grid operator ADMIE, which owns and operate more than 12,000 km of HV transmission line. In 2017, the State Grid Corporation of China (SGCC) purchased a 24% stake in ADMIE from PPC, while a further 25% stake in ADMIE has been sold to DES ADMIE S.A, a state-owned company set up for this purpose. The remaining 51% belongs to ADMIE holdings (51% PPC, 13% Silchester International Investors LLP).
In December 2019, PPC has released its 2020-2024 business plan that includes the phase-out of 3.4 GW of lignite-fired capacity by the end of 2023. The corporation also ambitions to increase its RES installed capacity by 1 GW by 2024.