ECONOMY

PPC sets deadline for consortiums

ppc-sets-deadline-for-consortiums

Public Power Corporation has granted candidate investors in the lignite-powered units at Megalopoli and Meliti an April 19 deadline to inform the utility of any consortiums they may form between them or with third parties in order to take part in the next phase of the tender.

Investors involved in the process of seeking alliances view the period as insufficient, and have already submitted an informal request to PPC for an extension. PPC appears disposed to satisfy the demand as it has been in favor of the formation of consortiums both in the previous and the current tender, hoping for the highest price possible.

In that context PPC chief Manolis Panagiotakis has intervened personally as a matchmaker between existing candidate investors as well as others: He has recommended to the short-listed bidders companies that have not made any offer and hail from as far away as India.

Among the companies in search of some kind of alliance is Athens-listed ElvalHalcor, which did not participate in the binding offers stage in the previous tender; however, it has not reached an agreement with any of the existing suitors yet. Terna, which at this stage of the previous tender had forged an alliance with Czech firm Sev.En Energy, appears to be in talks both with the Czechs and other candidates.