Thursday Jul 24, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Five embassies signal interest in ‘Small PPC’ bill

By Chryssa Liaggou

Five embassies in Athens have already asked for the translation of a draft law on the break-up of Public Power Corporation, indicating an interest on behalf of investors in the so-called “Small PPC,” which is meant to rival Greece’s electricity giant once it is split into two.

PPC itself values the production portfolio of 2,690 megawatts – to be transferred to the new company – at 1.5-2 billion euros and is anticipating interest mostly from European electricity firms with experience in the operation of coal plants. This category includes Germany’s RWE and EON, which have shown their interest in the local power market in the past but currently face serious cash problems due to a program for the withdrawal of nuclear plants and the drop in demand in the European market. It is no coincidence that the German Embassy was among five to ask for the translation of the bill about “Small PPC.”

The interest expressed by the Italian and French embassies is also unsurprising: Italy’s Edison is already involved in the Greek market through Elpedison, its joint venture with Hellenic Petroleum (ELPE), and has made no secret of its interest in PPC. One cannot rule out a bid by ENEL as well, which is active in Greece in the renewable energy sources sector and is pursuing a policy of expansion in the Balkans.

France’s EdF is seen as one of the most robust companies in Europe and controls Edison in Italy. French interest may also come from Gaz De France-Suez that is a partner of local TERNA in the Heron II plant.

What has been more surprising is the interest in the bill from the US and Japanese embassies, with the likeliest scenario concerning a possible investment in local firms involved in power production (ELPE, Mytilineos, Motor Oil, GEK-TERNA and Hellenic Technodomiki), which will probably seek international partners to bid for the “Small PPC.” For local power producers, joining forces with foreign firms is necessary since they cannot come up with the funds needed on their own.

ekathimerini.com , Sunday March 16, 2014 (21:28)  
Eurozone bonds yields rise on strong data, dulling QE prospects
PPC approves $243 million wind investment in Greece
No property transactions for tax evaders
IOBE warns crisis will return if reforms are not implemented
Man gets suspended prison term for animal cruelty
A 69-year-old man was handed an 8-month suspended prison sentence and was fined 30,000 euros after being found guilty over charges of beating a stray dog to death in Charopo, in Serres, nort...
Presidential election will not lead to snap elections, Samaras tells ND deputies
Prime Minister Antonis Samaras has told New Democracy MPs that he does not think Greece will go to snap elections early next year over the election of a new president. Speaking off the recor...
Inside News
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
When evaluation is seen as useless
The reactions toward the government’s plans for an evaluation of public sector workers are completely unsurprising. Civil servants – and not just the unions that represent them – abhor the m...
EDITORIAL
Playing the good guy
There is a part of the government that is striving to fulfill the commitments that Greece has undertaken toward its foreign creditors, most of which pertain to reforms that are absolutely es...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Man gets suspended prison term for animal cruelty
2. Eurozone bonds yields rise on strong data, dulling QE prospects
3. PPC approves $243 million wind investment in Greece
4. Presidential election will not lead to snap elections, Samaras tells ND deputies
5. Medical assistance for Acropolis visitors
6. Samaras and Venizelos meet amid internal strife within coalition
more news
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Democracy 'retreated' during crisis, says Papoulias
3. Family of deceased woman on life support says application for 'special status' had been filed with PPC
4. Efforts continue on Crete to find 'Sifis' the crocodile
5. Samaras and Venizelos meet amid internal strife within coalition
6. Medical assistance for Acropolis visitors
Today
This Week
1. The cost of excellence
2. Ex-Credit Suisse banker taps lesson for Greek rebound
3. Greece seen in third bailout as bonds not enough, economists say
4. Climber dies in Mount Olympus fall
5. Greek banks able to tap investors after stress tests, HFSF Says
6. Greek sovereign debt at 174.1 percent of GDP in first quarter
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.