PPC plant auction fails to attract any bidders, again

The tender for Public Power Corporation’s four lignite-powered plants proved barren once more, as the troubled utility on Monday said that there have been no bids for the units at Meliti and Megalopoli, even though no minimum price was demanded from investors.

"The result of the auction for PPC’s lignite plants shows the state of devaluation the corporation has come to from the mismanagement of previous years," sources from the Energy and Environment Ministry said.

This was the second tender for these plants, after a first failed attempt by PPC to dispose of its brown coal plants earlier in the year.