State-run and ATHEX-listed Public Power Corp. (PPC) remains on course for meeting 2021 targets, president and CEO Giorgos Stassis told market analysts on Friday, during a tele-conference to present Q1 2021 results.

Nevertheless, he said Q2 results will be affected by an international surge in CO2 prices.

Asked about the course of a tender to sell-off 49 percent of PPC-affiliated Hellenic Electricity Distribution Network Operator, the semi-independent distribution network operator in Greece, he said a VDR process has begun for nine interested candidates, while forecasting that the sale process will conclude in September.

Additionally, Stassis said a decision on whether to transform the Ptolemaida 5 power plant to a natgas-fired unit will come at the end of June. Currently, the major plant uses lignite to produce electricity.

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