Tender for PPC's lignite-fired power capacity on track

Wednesday, 29 August 2018 19:16
UPD:19:18
Eurokinissi/ΚΑΛΛΙΑΡΑΣ ΘΑΝΑΣΗΣ
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By K. Deligiannis 
kdel@naftemporiki.gr

An international tender to sell-off Public Power Corp.’s (PPC) lignite-fired units in the Peloponnese and northwest Greece, along with the mines that provide lignite deposits, continues ahead of expected management presentations by the dominant electricity utility's leadership to each interested investor.

The presentations are set for next month.

Representatives of investment schemes still in the running for the units will also have the opportunity to ask for further clarifications, following their access to the ASE-listed utility’s "virtual data room", where all relevant information and figures – all commercially confidential – for the specific power plants in Florina and Megalopouli are stored.

Based on a timetable to achieve the state’s de-investment in PPC’s lignite-fired power capacity, presentations will take place over a period of several weeks before the “reverse countdown” begins for the submission of binding offers, set for October.

At least two consortia have expressed a direct interest in the process, including interest for the related lignite production portfolio.

The first includes the Copelouzos group in tandem with China Energy.

Additionally, the GEK Terna group agreed with Czech Republic-bassed Indoverse Coal Investments Ltd., a member of the Seven Energy group, last July to submit a joint binding offer.

Non-binding interest so far has been expressed by the Mytilineos group, a major mining and metals concern in Greece, although its exact intentions have not been revealed.

Elval-Halkor has also expressed an interest to partner with other schemes, given that it enjoys an advantage of owning emission trading Rights.

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