Czech electricity company CEZ is to decide by the end of 2012 on the sale of some of the five coal-fired power plants it has put on offer to meet regulatory demands.
CEZ will receive intitial bids on Friday for the planned divestment to appease EU regulators and end a long-running dispute with a supplier over coal prices.
The majority state-owned group is offering for sale its 1000 MW Pocerady plant, one of its most profitable, and the 800 MW Chvaletice station.
It will also look to sell its Tisova plant together with the Melnik 3 station, and the hard coal-burning Detmarovice plant. Both have installed capacity of around 800 MW.
CEZ, central Europe’s biggest listed company with a market capitalisation of $18 billion, said last month it expected more profit from selling the plants than continuing to operate them.
The potential sale of the plants would free up capital for investments in nuclear and renewable energy, CEZ has said
For more coal power news