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May 20, 2019

PPC receives six expressions of interest in coal-fired power plants

Greece’s Public Power Corp (PPC) on Friday received six expressions of interest in three coal-fired power plants it is selling under a post-bailout agreement with its international lenders.

PPC, which is 51 percent state owned, relaunched the sale last week after a previous tender failed to attract satisfactory bids last month.

Expressions of interest were from Beijing Guohua and Damco Energy, China Western Power Industrial, Sev.En Energy and Indoverse Coal Investments, Gek Terna, ElvalChalkor, as well as Mytilinaios Group.

PPC is selling two plants in Megalopoli on the southern Peloponnese along with another plant and a license to build a new one in Meliti, northern Greece, after a European Union court ruled that the utility had abused its dominant position in the coal market.

The sale is part of a list of reforms Athens needs to complete to qualify for the disbursement of further aid after its latest bailout expired last August.

PPC has said it wants to conclude the sale by May and that it has been in touch with investors from the United States, Russia and China in an effort to attract new bidders.


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