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Greece: PPC gets two binding bids for coal plants: Sources

The bid deadline for the sale, a term under Greece’s post-bailout surveillance by its lenders, had been repeatedly pushed back since the tender was launched last year for various reasons.

Two investors have submitted binding bids for three coal-fired plants that Public Power Corp (PPC) is selling to help boost competition in the energy market, a government official told Reuters on Wednesday. The bid deadline for the sale, a term under Greece’s post-bailout surveillance by its lenders, had been repeatedly pushed back since the tender was launched last year for various reasons. The latest deadline expired on Wednesday. GEK Terna, jointly with Czech company Seven Energy, submitted one of the bids, a government official and a source close to the sale told Reuters on condition of anonymity. The other bidder was Greek industrial group Mytilineos , the government official said. Officials at the company were not immediately available for comment.

PPC is selling the plants in northern Greece and on the southern Peloponnese after an EU court ruled that the utility had abused its dominant position in the coal market. PPC, which is 51 percent state-owned, and the energy ministry are handling the divestment and the European Commission is overseeing the process.

https://energy.economictimes.indiatimes.com/news/coal/ppc-gets-two-binding-bids-for-coal-plants-sources/67868838

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