Greece's dominant power utility PPC and China International Water and
Electric Corporation (CWE) have placed bids for concessions to build
two 526 MW hydro power plants in the Former Yugoslav Republic of
Macedonia (FYROM), the Economy Ministry said on Friday.
The two
companies were among 10 that had been shortlisted after the first stage
of a tender for the construction of the Cebren and Galiste power plants
at a cost estimated at up to 700 million euros ($909.8 million).
A
commission will evaluate the bids by the end of December and forward
them to the government, which will make a final decision, Suzana
Pranjic, the public relations official for the Economy Ministry, said in
a telephone interview.
The winner of the tender will build the
plants in partnership with FYROM's state-owned power utility ELEM and
operate the plants under a 57-year concession, she said.
CWE and
PPC have offered ELEM a stake in the future plants of 40.5 percent and
28 percent, respectively, the government said on its website.
Under
the tender terms, the percentage of shares offered to ELEM would be the
main criterion in the selection of a future partner.
ELEM operates 1,329 MW of power-generating capacity, of which 60 percent is coal-fired and 40 percent hydro-power.
