Deposit for new power station under control, PPC responds

The main power utility PPC has rejected, as inaccurate, a press report alleging that an agreement reached with a consortium for the construction of a new power station, Ptolemaida 5, in Ptolemaida, northern Greece, will be nullified unless the company provides a 200 million-euro deposit by the end of May, meaning within the current week.

According to a PPC response, the agreement for the new power station’s construction foresees payment of a 200 million-euro deposit within a ten-day period once the project’s building permit has been issued. The permit is expected to be provided imminently by local authorities.

Earlier this month, Production Reconstruction, Environment and Energy Minister Panagiotis Lafazanis asked the Japanese Ambassador to Greece, Masuo Nishibayashi, to convey his request to the Japanese government for an improved deal on the project’s cost. The consortium to take on the power construction includes key Japanese participation.