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PPC-RWE cooperation talks at an early stage November 12, 2007

Posted by grhomeboy in Energy.
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Cooperation talks between Public Power Corporation (PPC) and RWE AG, Germany’s second-largest utility, have a limited scope and are at an early stage, the Greek company said.

“Talks with RWE concern only specific projects,” PPC said in a filing to the stock exchange yesterday. “Confidential talks to sign a memorandum of cooperation are at an early stage, despite the progress that has been made,” the statement said.

PPC said on Thursday it had a cooperation agreement with RWE and declined to give further details. Under the plan, RWE would get 51 percent and manage all new units PPC plans to build in the future, a financial website had reported.

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