Bidders to face November 6 deadline for PPC lignite units

Prospective buyers of the main power utility PPC’s bailout-required sale of lignite units and mines are expected to face a November 6 deadline for binding offers, energypress sources have informed.

In a weekend newspaper interview, the power utility’s chief executive Manolis Panagiotakis noted the binding offers deadline, for two sale packages offering lignite units and mines in the country’s north and south, went no further than to say that a deadline would be set for the first week of November.

However, investors, who have already been offered one deadline extension, could still seek a follow-up extension as the details of incentives requested by potential buyers remain unclear. Bidders have warned they will not submit offers unless satisfactory incentives are offered.

Rising CO2 emission right costs and indefinite CAT mechanism remuneration prospects are major concerns for prospective buyers looking to invest in PPC’s lignite assets.