In June 2025, Bernitsas announced that China State Grid's EUR 62 million acquisition of a 20% stake in Ariadne Interconnection (as reported by CEE Legal Matters on November 28, 2024) has now closed.
As previously reported, Bernitsas has advised China State Grid on its acquisition of a 20% stake in Greece's Independent Power Transmission Operator's subsidiary Ariadne Interconnection which is responsible for implementing the electricity interconnection between Attica and Crete.
According to Bernitsas, Ariadne Interconnection involves "two submarine 500-kilovolt cables, 335 kilometers in length, of a total 1,000-megawatt transmission capacity, laid in record depths of up to 1,200 meters on the Aegean seabed."
China State Grid has been IPTO's strategic investor since 2017.
The Bernitsas team included Partner Yannis Seiradakis, Counsel Eleni Stazilova, Senior Associates Stella Papakosta and Sildia Fotopoulou, Associates Konstantina Karveli, Manto Karamanou, and Katerina Fotopoulou, and Trainee Attorney Nikos Fragkozidis.
