Noida, UP -- (SBWire) -- 03/17/2011 -- Greece plans to investors sell up to 49 percent of the utility PPC, deregulate AOS transfer operations as part of plans to the energy market.
According to a draft law submitted to a cabinet meeting on Wednesday of Environment, Energy and Climate Change Minister Tina Birbili, PPC will set up a 100 percent subsidiary, ADESMIE that run and own the company, AOS energy transmission assets.
PPC, 51 percent owned by the state to sell in a position to a minority ADESMIE to private investors, the arenas, AOT in the generation or supply, increasing the company that AOS capital and investment support in the ten years of development involved in plan has the bill.
The decision was a pleasant surprise for private investors and an unpleasant one for PPC, AOS trade union group, as neither party has been advised by the Ministry, AOS decision.
All parties acknowledge that the decision is the first step towards privatization of the system, valued at around € 1700000000th
PPC is AOs transmission system, a new market for Europe, AOS operator and an appealing one, according to market sources due to charges on the Greek network being among the highest in Europe.
Another feature, the network even more attractive to investors is its ability to be mounted adjacent to the Turkish grid.
The bill has the ADESMIE will have complete control over the network and responsible for the maintenance and development of IT.
will also take ADESMIE Desmi, the country, AOS national grid operator, said the draft law.
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PPC to Sell up to 55 % of network