The power plant of Kardia in seen through the once garden of a destroyed house in the village of Charavgi
The power plant of Kardia in the valley of Ptolemais near the town of Kozani north of Athens on Sept.29, 2011.  Yannis Behrakis—Reuters

Greece Agrees to Sell Coal-Fired Plants and Mines, Report Says

May 02, 2017

Greece agreed with its lenders to sell coal-fired plants and coal mines equal to about 40% of its dominant power utility Public Power's (pupof) capacity, a government source said on Tuesday.

The agreement is part of a reform deal Greece and its foreign creditors reached early on Tuesday, paving the way for the disbursement of further rescue funds under the country's third international bailout.

Greece will hold a market test to sound out investors interested in buying coal-fired plants and mines owned by Public Power by November, aiming to wrap up the sale by June 2018, a government official told Reuters on condition of anonymity.

PPC is 51%-owned by the state.

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The lenders and Greece also agreed that Athens will relaunch the sale of a 66% stake in its natural gas grid operator DESFA and conclude it by the end of the year.

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