PPC, Larco sign energy supply contract

Public Power Corporation on Wednesday signed an electricity energy supply contract with Larco, covering the period January 1, 2016-December 31, 2020, after the two companies’ general shareholders’ meetings approved the contract.

“With the signing of the contract the two companies’ relations are entering into a new phase after an extended period of uncertainty and deadlocks, allowing Larco to be consistent with its financial obligations towards PPC,” a PPC announcement said.

PPC expressed the hope that Larco will overcome its problems and will move forward towards growth to the benefit of all. Larco is the largest debtor of PPC, with the latter acquiring shares in Larco to cover existing debts.