Greek state-owned power utility Public Power Corporation (PPC) has received no binding bid for the sale of three coal-fired power plants that it is selling under a post-bailout agreement with its international lenders. The sale included two lignite-fired power units in Megalopoli (unit 3 & 4, 255 MW each, southern Peloponnese) and the lignite-fired power plant in Meliti (289 MW, northern Greece), which correspond to 40% of PPC's coal-fired capacity. The sale also included a license for the construction of a second power unit in Meliti.
The sale process has been repeatedly pushed back since the tender was launched in 2018. PPC rejected two bids in February 2019 considering that they were not satisfactory and relaunched the sale process in March 2019, attracting expressions of interest (EoIs) from 6 companies, namely Beijing Guohua and Damco Energy, China Western Power Industrial, Sev.En Energy and Indoverse Coal Investments, Gek Terna, ElvalChalkor and eventually Mytilinaios Group.
The new government that took office in early July 2019 may not relaunch the sale process for these plants and will work on a plan to help PPC, which is struggling with more than €2.4bn of arrears from unpaid bills since the economic crisis of 2009.
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