News from HAEE
News from HAEE

News

Five expressions of interest for majority stake in Hellenic Petroleum

Greece launched last month a tender to sell at least 50.1% of Hellenic Petroleum. Initial interest was submitted by Alrai Group Holdings Limited, a consortium comprising Carbon Asset Management DWC-LLC and Alshaheen Group, Gupta Family Group Alliance, Glencore Energy UK (GLEN.L) and Vitol Holding BV. Greece and Paneuropean Oil and Industrial Holding are jointly selling a stake of at least 50.1% in the refiner.

The Cyclades Interconnection enters the second stage

The first phase of the Cyclades Interconnection Project was officially inaugurated on March and now enters the second stage.
The Cyclades Interconnection is a very important Project for the Greek economy, as it provides reliable and sufficient power supply to the islands with high voltage electricity, boosting tourism and the economic activity as a whole. At the same time, the burden on consumers through Public Service Obligations (PSOs) is reduced, since all electricity consumers in Greece subsidize the more expensive electricity that is generated by oil power stations in the non-interconnected islands. Furthermore, the Project improves the environmental footprint of the islands and encourages the penetration of Renewable Energy Sources through new investments.
The €247 million Project, which was co-funded by the European Union, the National Strategic Reference Framework (NSRF) and financed from the European Investment Bank, is the first Project completed by ADMIE under its new shareholder structure, signaling a new era of interconnections for the Transmission System Operator. 

Tesla May Need $10 Billion in Funding by 2020

Elon Musk may need to tap capital markets for more than $10 billion by 2020 to fund Tesla Inc.’s auto-making operations, new products and expected expansion to China, according to Goldman Sachs Group Inc.

“We see several options available to the company to refinance maturing debt and raise incremental funds, which should allow Tesla to fund its growth targets,” Goldman's analyst David Tamberrino said. “However, issuing incremental debt may weigh on the credit profile”.

DEPA privatization will have to wait a bit longer

DEPA - Shell discussions for Dutch firm’s local market exit are still not over. Long-running negotiations between DEPA, the public gas corporation, and Shell concerning the former’s acquisition of the Dutch firm’s 49% share of the EPA Attiki Gas Supply and EDA Attiki, could be completed successfully within the next few days.

DEPA holds a 51% stake in these ventures and is negotiating to buy out Shell for a reported sum of €150 million.

ESCP Europe Business School: 2018 Graduation of MSc in Energy Management (MEM) and Executive Master in Energy Management (EMEM)

The Graduation Ceremony of MSc in Energy Management (MEM), a full-time postgraduate programme, and Executive Master in Energy Management (EMEM), a part-time postgraduate programme, took place on May 2018 at the Royal Society in London. The Executive Master in Energy Management is part of the ESCP Europe Executive Specialized Masters portfolio. 

Click here to watch the highlights of the Graduation Ceremony.