UPDATE 1-Greece's PPC to bid for Montenegro power monopoly

* PPC, Restis to jointly bid for stake in EPCG

* Seek up to 45 pct stake

(Adds details)

ATHENS, July 14 (Reuters) - Greece's biggest power company, Public Power Corp (PPC) (DEHr.AT), said on Tuesday it would jointly bid with Greek shipping group Restis for a stake in Montenegro's power monopoly, EPCG, as part of plans to expand in the Balkans.

State-controlled PPC has been trying unsuccessfully for years to boost profit by expanding outside its Greek home market, where it is subject to stringent government regulation.

PPC and Restis unit GoldenEnergy One Holdings will seek to acquire up to 45 percent of EPCG through direct share purchases and participation in a share capital increase.

EPCG, a vertically integrated power company, runs electricity plants with an installed capacity of 868 megawatts and has more than 320,000 clients.

(Reporting by Harry Papachristou; editing by Simon Jessop)