Greece to sell coal-fired plants as part of bailout deal

Greece has agreed with its lenders to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp’s capacity.
Athens, Greece
A government source told Reuters the agreement is part of a reform deal Greece and its foreign creditors reached early on Tuesday, paving the way for the disbursement of further rescue funds under the country’s third international bailout.

Greece will hold a market test to sound out investors interested in buying coal-fired plants and mines owned by Public Power by November, aiming to wrap up the sale by June 2018.

PPC is 51 percent-owned by the state.

The lenders and Greece also agreed that Athens will relaunch the sale of a 66 percent stake in its natural gas grid operator DESFA and conclude it by the end of the year.

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