Greece says 15 investors interested in coal-fired plants sale

Fifteen investors have expressed interest in acquiring coal-fired plants the country will divest to comply with an EU court ruling, Greece’s Energy Ministry said on Sunday.

Athens has agreed with its foreign creditors that power utility Public Power Corporation, which is 51 percent state-owned, will sell plants equal to about 40 percent of its capacity after a European court ruled that the utility had abused its dominant position in the coal market.

Greek and international energy producers and local industries participated in a market test conducted by the European Commission’s directorate general for competition, the ministry said in a statement. 

“There was strong interest from investors,” Energy Minister Giorgos Stathakis said, without providing further details.

Greece has reached an agreement with the Commission on the issue, which has been at the top of the agenda of talks with its creditors, and will prepare a draft law, he said.

The units that will be sold are Meliti I and the yet-to-be-built Meliti II in northern Greece along with another two units in the southern Greek town of Megalopoli.

Athens is expected to pass any relevant law by April in order for PPC to launch a tender by June.

[Reuters]