Greek state-owned power utility Public Power Corporation (PPC) has outlined plans to restart a tender for the sale of three coal-fired power plants and conclude it in May 2019. The deadline has been repeatedly pushed back since the tender was launched in 2018 and the lack of interests from investors threatens the process. PPC estimates that only a further deadline extension could save the sale effort from a failure and the company is working in parallel on alternatives such as new sale-term improvements.
In total, three coal-fired power plants corresponding to 40% of PPC's coal-fired capacity will be available for sale along with a license for the construction of a fourth one. The divestment is part of Greece’s international bailout agreement, after an European Union Court ruled that PPC had abused its dominant position in the domestic coal market. In July 2018, PPC shortlisted only six companies, namely: GEK-Terna, Mytilineos, Elvalhalkor, a joint venture (JV) of Beijing Guohua power Company with Damco, and two Czech companies, namely Energeticky Prumyslovy Holdings (EPH) and Indoverse Coal Investments. The units represent a major profit challenge as their revenue and costs figures have been fluctuating significantly.
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