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.