Two-thirds of PPC’s depleted lignite mines to the State

Roughly two-thirds of power utility PPC’s depleted lignite mines are in the process of being transferred to the Greek State. The power utility has scheduled an extraordinary shareholders’ meeting on March 30 for approval of the transfer of ownership.

More specifically, 16,400 of 24,700 hectares of depleted lignite mine property is planned to be transferred to the Greek State. PPC will maintain control of the remainder, primarily for development of solar farms.

As noted by PPC, the completion of this transfer of property is subject, by law, to approvals by the General Assembly of PPC’s shareholders, the signing of a relevant notarial deed, as well as the receipt of all necessary approvals from competent authorities.