PPC tries its luck at energy generation

Greek energy group Public Power Corporation (PPC) plans to bid for at least one of the three energy holdings that will soon be put up for sale in Romania. The news was announced by Ioannis Palaiokrassas, the company chairman, and quoted by ANA News Agency. The public company from Greece has already received the green light to enter the contest for Bulgarian power plants and is also eyeing Turkey. However, the acquisitions in Romania are at the top of its list, according to PPC’s chief financial officer, Grigoris Anastasiadis. This is not the first attempt by PPC to buy something on the Romanian market; it previously joined the race for the four electricity distributors put up for privatisation, though did not submit a bid in either of the four cases. It first approached the Romanian market in 2002 when it submitted expressions of interest for the Electrica Dobrogea and Electrica Banat electricity distributors. It then joined the race for the two Electrica branches in Oltenia and Moldova, but did not submit bids. ZF