PPC lignite plant bidders require more time for offers

Prospective bidders for the coal-fired electricity plants Public Power Corporation is selling at Meliti and Megalopoli are asking for more time before they submit their final offers.

A number of candidate buyers who are in the process of assessing the information collected at the units’ data rooms believe that the October 17 deadline will not suffice for their processing and are asking PPC for one more month.

Sources say such a request has already been submitted by China’s CHN Energy, which has joined the tender in a consortium with the Copelouzos group. The request is said to have also been communicated to Brussels, which has the final say on the process.

Ahead of the submission of binding bids, PPC officials yesterday began its meetings with candidate investors, known as management interviews, with bidders expressing concern over the volatility in carbon dioxide prices.