PPC boss invites China’s Shenhua to take part in utility’s lignite units sale

The main power utility PPC’s chief executive has openly invited Chinese energy company Shenhua to participate in a bailout-required disinvestment procedure expected to soon offer buyers 40 percent of the utility’s lignite capacity.

The PPC boss, Manolis Panagiotakis, was speaking at the Clean Energy Development Forum, staged as part of the ongoing Thessaloniki International Fair.

Panagiotakis expressed confidence that Shenhua, the world’s biggest coal producer, could utilize this 40 percent of PPC’s lignite capacity in an efficient and profitable way.

Regional markets have an extremely important role to play in Europe’s market integration plan, while PPC, aiming to be a key player in this process, is seeking partnerships with companies such as Shenhua and the Copelouzos Group, Panagiotakis told the energy conference.

The Chinese energy giant’s CEO, Dr. Ling Wen, confirmed Shenhua’s investment interest in Greece, in comments offered to the local ANA-MPA news agency.

Several months ago, Shenhua and the Copelouzos Group signed an agreement to co-develop green energy projects and upgrade power stations in Greece and other countries. The amount to be invested through this partnership is estimated at 3 billion euros.