Public Power Corp. SA said over the weekend that it will
retain 100% ownership of renewed power plants under a cooperation deal,
denying press reports that it will cede management control of a
majority stake of new plants to Germany's RWE AG.
"The (press) report on the collaboration of PPC with RWE -
for which a relative statement has already been published - concerns
the submission of RWE's proposal for the provision of consulting
services (owners' engineer) to PPC, for the tendering process for
replacement of aging plants," PPC said in a statement late Saturday.
"...the production in question will remain at 100% under the ownership control of PPC," it added.
The statement from PPC followed media reports last Thursday,
in which PPC was cited confirming it's in talks with the German company
on a EUR4 billion strategic partnership.
According to a report on the Financial Times Web site
Thursday, a memorandum of understanding, which is under discussion
between the two companies would give RWE 51% of equity in any new
units.
After the press reports, last Friday PPC said that it has
examined proposals for cooperation that were submitted by several
firms, including RWE, in order to secure supply of electricity in the
immediate future.
"Discussions with RWE are covering specific projects only.
The obviously confidential discussions for the signing of a MoU between
the firms, despite the progress made so far, are still in an early
stage," it said Friday.