The capital increase lays the groundwork for accelerating an ambitious investment program extending through 2034, expected to strengthen the country’s energy security while helping to contain electricity costs.
According to the Operator’s Development Plan, investments are projected to reach approximately €6.5 billion by 2030 and are expected to exceed €8 billion by 2034. The plan includes critical infrastructure projects, such as the interconnection of the Dodecanese and the islands of the Northeastern Aegean, as well as the enhancement of international links with Italy, Albania, and Turkey through new cable lines alongside existing connections.
Benefits for Consumers and the Electricity Market
Island interconnections are considered strategically important, as they reduce the cost of electricity supply to the islands, limiting expenditures for Public Service Obligations (PSOs), which affect electricity bills nationwide.
At the same time, international electricity interconnections boost competition, expand import and export capabilities, and strengthen Greece’s role as an energy hub in the wider region. Based on current information, the capital increase is not expected to alter the shareholder structure. The Hellenic State, directly and indirectly, will retain majority control with a 51% stake, while China’s State Grid Corporation will maintain its 24% holding.
Official sources highlight that shareholder participation represents a strong vote of confidence in the Operator’s strategic role as the implementer of critical energy infrastructure, both for Greece and Southeast Europe.
Strengthening the Capital Base and Project Financing
The share capital increase is expected to significantly bolster ADMIE’s equity, improving its financial position and creating more favorable conditions for bank financing of projects. It is also anticipated to contribute to lower financing costs, benefiting both the Operator and end consumers.
Currently, ADMIE’s Regulated Asset Base (RAB) stands at approximately €3 billion and is expected to grow gradually as investments progress. The weighted average cost of capital (WACC) for the current regulatory period is set at 7.45%.
In the coming months, a decision is expected from the relevant regulatory authority regarding the allowable revenue and WACC for the new 2026–2029 regulatory period, a factor that will significantly impact the Operator’s future profitability and investment plans.