The EC invites 40 companies in the market test for Greece’s PPC privatization

PPC shareholdersThe European Commission (EC) will invite 40 energy companies to participate in the market test for the sale of coal-fired power plants in Greece. The sale is part of the efforts of our neighbor’s creditors to reduce the state’s share in the energy sector. According to the agency, companies from the US, Japan, China, the Czech Republic, Poland and the domestic market will be sought. The PPC leadership also invites the major energy consumers in the country to participate in the market test.

However, it is unclear how successful this operation is against the ambitious decarbonization targets of the European economy and the new environmental standards for large combustion plants. Just days ago, one of the key players – the American AES, which operates in Bulgaria, announced that it abandoned its coal and changed its focus on green technologies. With the market test, investor interest will be checked for all coal plants that are part of state PPC assets, although TPPs to be sold do not change – two near Megalopolis and Meliti TPP I near Florina, as well as a construction permit for the Melitti II TPP.

As part of Athens’ efforts in the field of energy, it is also the sale of a 17% stake in the state-owned RCR that has a monopoly in the sector.

The government must present its privatization plans to parliament in order to be able to hire a consultant for the sale of the shares of state-owned companies.