ATHENS (Dow Jones)--The Greek government has given the green light to Public Power Corporation SA (PPC.AT) to proceed with a plan to jointly build two new power plants in conjunction with Germany's RWE AG (RWE.XE), the Kathimerini daily newspaper reports Tuesday.
Citing unnamed sources at the Ministry of Development, the newspaper says the government approved the potential joint venture of PPC with RWE, with PPC holding a 49% stake.
The paper said the memorandum of understanding between PPC and RWE will be discussed in PPC's board of directors' meeting on Jan. 29.