17102017Headline:

Florina power station to be included in ‘basket’ of PPC units to be sold, source says

Florina power station, along with an existing lignite unit and a licence to build a second one, will be included in the “basket” of power units to be sold in order to reduce Public Power Corporation (PPC)’s lignite production by 40 pct, a high-ranking PPC official said.

He added that the possibility of including the Amyntaio power station in the package remained open, despite damages suffered by a recent landslide in the lignite mine and the need for environmental investments in the units.

The PPC official said that negotiations with the EU’s DG Comp to agree on a «basket» of units to be sold are 70 pct complete but a final agreement has not been reached yet. He added that the European side’s goal was to ensure that the project will be successful and that private investors will express interest in buying these units.

PPC’s chairman and CEO, Manolis Panagiotakis, addressing an Economist conference on Monday, warned that European companies were not interested in investing in lignite units and, for this reason, no obstacles should be raised to the sale of units to companies from China, Japan or the United States.

PPC’s source stressed that an older proposal by PPC to set up a subsidiary to sell a portfolio of around 500,000 customers (or 7.0 pct of the market) to third parties was the most efficient way to open up the Greek power market.