Four consortiums have been established involving most, if not all, of the nine participants through to the second round of a sale offering a 49 percent stake in distribution network operator DEDDIE/HEDNO, a subsidiary of power utility PPC, indicating that at least four binding offers can be expected, when these are submitted within August, sources monitoring the procedure have informed.
All nine qualifiers have been assessing DEDDIE/HEDNO’s technical and financial data, the sources said.
At its most recent session, PPC’s board approved a plan for the transfer of the group’s electricity distribution assets to DEDDIE/HEDNO.
Also, PPC has commissioned professional services company Grant Thorton for the asset evaluation process, expected in August.
The privatization’s nine second-round qualifiers are:
ARDIAN Infrastructure Funds
BCI – British Columbia Investment Management Corporation
BLACKROCK – BlackRock Alternatives Management, L.L.C
CVC Capital Partners – Advisers Company, S.a.r.l
F2i – Fondi Italiani per le Infrastructure SGR S.p.A
First Sentier Investors EDIF III GP S.a.r.l
KKR – Kohlberg Kravis Roberts & Co. L.P.
MACQUARIE Group Limited
OHA – Oak Hill Advisors LLP
Business adviser Grant Thornton Hellas, commissioned and funded by the European Bank for Reconstruction and Development, has taken on the development of an institutional, legal and regulatory framework for offshore wind farms in Greece, in support of an overall effort being made by the energy ministry, energypress sources have informed.
Grant Thornton Hellas has already received an assortment of proposals, including on spatial and licensing matters, from interested parties, among them ELETAEN (Greek Wind Energy Association), ESIAPE (Greek Association of Renewable Energy Source Electricity Producers), EDEY (Greek Hydrocarbon Management Company), and IPTO (power grid operator).
Grant Thornton Hellas intends to also examine frameworks developed by other countries for their offshore wind farm sectors.
The energy ministry is striving to finalize the Greek framework’s key sections by June, as has been announced by ministry officials, or, at the very latest, within the summer, ahead of legislative procedures by the government.
A high-level plan, the framework’s nucleus, is planned to be completed within May so that legislative procedures can take place in June, sources said.
To serve as a road map, the high-level plan will need to provide details on: the selection criteria to be applied when choosing offshore areas to host initial projects; licensing steps for investors; the agency to be given responsibility of the licensing and project maturity processes; and the timing of auctions for tariffs.