A number of the possible buyers of main power utility PPC’s lignite units and mines included in a bailout-required sale representing 40 percent of the corporation’s lignite capacity have proposed a form of co-ownership with the state-controlled power utility for a period of six years, the equivalent number of years potential buyers would be committed to maintain all current jobs at the units sold as a result of related legislation ratified by the government.
Potential buyers have calculated that three power stations in Meliti and Megalopoli included in the disinvestment package each incurred losses of more than 30 million euros during the first half of the year and, presumably, could be expected to incur respective losses of around 60 to 70 million euros for the year.
PPC and potential buyers would share risks entailed and losses and profit over the six-year period, according to the proposals forwarded by possible investors, who want incentives. before making offers.
The power utility has already set an SPA term that would ensure the corporation receives 30 percent of CAT remuneration amounts should the units placed for sale qualify for the mechanism, as providers of grid sufficiency.