ECONOMY

Public Power Corporation to build two coal plants along with RWE

The management of the Public Power Corporation (PPC) is once again considering the option of cooperation with German energy giant RWE. The partnership tops the agenda of the PPC board meeting on Thursday, according to sources, with the plan being the joint construction of two coal plants of 800 megawatts. They will likely be located at Volos, Kavala or Alexandroupolis. PPC will have a 49 percent stake in the project, with RWE maintaining 51 percent and management of the plants. These are units that RWE had planned to construct in Austria but, due to local reactions, the investment did not materialize, so the Germans checked other markets, including Greece. These units are not part of the PPC development plan that provides for the installation of 3,600 MW to replace old plants; PPC has declared it will maintain those new plants’ management. The timetable for this is set to start in 2008 and end in 2014. The possible PPC-RWE partnership concerns the Greek utility’s option to acquire additional power, with the company also examining similar partnerships with other major foreign firms.