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PPC annuls tender to sell two lignite units

Featured PPC annuls tender to sell two lignite units

A Public Power Corporation board meeting on Friday declared annulled a tender to sell the Megalopoli and Melitis lignite units on the grounds that bids submitted were not satisfactory.

Two binding bids were submitted, one of which was submitted on conditions while the second (for the Melitis unit) was significantly below the fair value.

Commenting on the results of the tender, Manolis Panagiotakis, PPC's chairman and CEO, said the enterprise was ready to relaunch the tender with the goal to disinvest from lignite power as agreed with the European Union.

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