Minister: Energy-related privatizations to proceed over next 2 months

Thursday, 12 November 2020 21:03
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Greece's relevant energy and environment minister this week reiterated that his center-right government will proceed with several high-profile privatizations in the country, and despite a "second wave" of the ongoing Covid-19 pandemic.

In statements to a remotely held energy sector-related conference, Minister Kostis Hatzidakis said the process to sell-off 49 percent of the Hellenic Electricity Distribution Network Operator S.A. will proceed, with the first half of December set for commencing a relevant process. The minority stake of the power network operator will have increased minority rights, he added

The minister also said a twin tender for debt-laden and loss-making Larco, fully state-owned and run ferro-nickel production manufacturer, will come at the end of this month.

Finally, he said the regulatory framework for an underground natural gas storage unit in the Kavala area of northern Greece will soon be clarified.

In general terms, Hatzidakis said the center-right government's main strategic directions include the gradual elimination of lignite as a source of power generation, an increase in the percentage of renewable energy sources, promoting electric vehicles, upgrading energy grids, better environmental protection, more solid and liquid waste management units as well as the promotion of a cyclical economy.


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