Capital Link forum

Investment funds targeted in operator DEDDIE’s 49% sale

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Power utility PPC’s forthcoming sale of a 49 percent stake in subsidiary firm DEDDIE/HEDNO, the distribution network operator, will not be limited to potential buyers with energy-market backgrounds, according to the sale’s terms, published yesterday, suggesting the seller is aiming to attract investment funds.

DEDDIE/HEDNO’s investment plan for the next five years is worth 2.3 billion euros, including 850 million euros for a nationwide digital power meter upgrade, an amount the government will seek to draw from the EU recovery fund.

Three major infrastructure funds have already expressed unofficial interest in the operator’s sale through a market test staged by Goldman Sachs, sources informed.

The sale is planned to take place over two stages, beginning with expressions of interest by candidates until a January 29 deadline, followed by a second round of binding bids from second-round qualifiers.

They will be given access to a virtual data room for evaluations before binding offers are shaped and submitted.

The government will aim to complete DEDDIE/HEDNO’s partial privatization in the first half of 2021, energy minister Costis Hatzidakis noted during an online Capital Link Forum staged yesterday.

 

‘Green future, digital networks, customer-friendly policy’ at PPC

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Power utility PPC’s priorities, namely a turn to green energy, digital transformation of networks and customer orientation, were stressed by chief executive Giorgos Stassis at a Capital Link Forum in New York titled “Invest in Greece – Greece is Back”.

The key aspects of PPC’s new business plan, to soon be announced, promise the corporation’s development from market follower to leader in RES production, digitization of networks and a commercial policy focused on customer satisfaction, the PPC chief executive noted.

US investors and institutional portfolio representatives held a succession of meetings with Greek company heads at the Capital Link Forum.

PPC’s business prospects drew considerable interest given a Greek government intention to privatize the country’s distribution network through the sale of a majority stake in DEDDIE/HEDNO, a power utility subsidiary.

Investors also displayed strong interest in PPC’s plans to develop green energy partnerships.

Capital Link Forum organizers noted the turnout for this year’s Greece-themed edition was larger than in previous years.

The government’s presentation of Greece as an investment-friendly market is finding appeal among international investors.

Energy deputy presenting NECP in Brussels, Paris, NYC

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The country’s newly unveiled National Energy and Climate Plan will also be presented in Brussels today by deputy energy minister Gerassimos Thomas at the council of EU energy ministers, the first stop in a series of presentations abroad.

Over the next few days, Thomas will also be taking the plan to Paris and New York for official presentations.

In Brussels, today, the Greek energy deputy will present the NECP’s ambitious targets to peers and intends to highlight that many of these goals will seek to exceed the expectations of the new European Commission.

The initial response to the NECP’s objectives, by Brussels and investors, has been extremely encouraging. The Greek plan is seen as far more ambitious than those of many other EU member states.

All EU member states will be presenting the key aspects of their respective NECPs at today’s council meeting.

The European Commission will then determine whether proposals made by Brussels last June have been adopted by member states for their NECPs, all revised.

The Greek energy deputy’s Paris sessions, later this week, include an International Energy Agency (IEA) event on the climate.

In New York, Thomas is scheduled to attend an annual Capital Link forum on Monday, whose latest edition is focused on Greece, for contact with investors, major investment banks and energy sector experts closely monitoring the Greek market’s developments.

Besides Thomas, a host of other Greek ministers and deputies, as well as leading officials of the country’s four main banks, are expected to participate at the New York event, titled “21st Annual Capital Link Invest in Greece Forum – Greece is Back”.