With respect to the tendering process of the Cyclades Interconnection Project with the Mainland System, PPC S.A. announces the following:
After the completion of the evaluation of the technical offers by our subsidiary IPTO S.A., the financial offer of the only technically acceptable Participant, the Joint Venture of the companies «Siemens A.E. – Prysmian Powerlink Srl – Nexans Norway AS» was opened. The financial offer of the participating Joint Venture included terms and prerequisites which led to significant financial deviations from the Terms foreseen in the Tendering Documents and the offered price was not considered satisfactory. For this reason, the offer was not accepted and the tender was cancelled.
Athens, November 19, 2012