Greece agrees to sell coal-fired plants, mines - govt source - REUTERS

Tue May 2, 2017 7:07am GMTReporting by Angeliki Koutantou Editing by Jeremy Gaunt

ATHENS May 2 (Reuters) - Greece 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, a government source said on Tuesday.

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.

Greek power utility shareholders approve grid spin-off - EURACTIV.COM / REUTERS

18 January 2017

Shareholders of Greece’s power utility Public Power Corp. (PPC) approved yesterday (17 January) the transfer of a 51% stake in the power grid operator ADMIE, part of a spin-off scheme, which is a major term in Greece’s bailout programme.

Under a legislated scheme aiming at keeping ADMIE under state control, PPC will sell a 24% stake to China’s State Grid for €320 million and set up a special vehicle to transfer a cost-free 51% stake to the state and existing private shareholders.

“The extraordinary PPC shareholders meeting approved the procedures in order to conclude ADMIE’s spin-off,” the energy ministry said in a statement.

In 2015, Greece signed up to its third international bailout since the debt crisis erupted, agreeing to cut spending, pursue reforms and speed up privatisations to shore up its finances.

Greece Will Not Sell Stake of Natural-Gas Operator to Azeri Firm Socar - WALL STREET JOURNAL

George Stathakis, Greek minister of energy and environment

Nov. 30, 2016 3:53 p.m. ETNEKTARIA STAMOULI
ATHENS—Greece said Wednesday it had failed to reach an agreement with Azerbaijan’s state energy company, Socar, to sell a 66% stake in Greek natural-gas operator Desfa, creating another obstacle in the country’s efforts to reach the privatization targets dictated by its bailout agreement.

The Azeri company proposed reducing the price of its investment, whose initial amount was €400 million. The proposal “was legally unfeasible and would cancel the tender,” a statement from Greece’s Energy Ministry said.

“The Greek government will decide on how it will re-launch the tender next week after consultation with its international creditors,” an energy ministry official said.