![Greek PPC: Acquisition of a majority stake in “Alexandroupolis Power Generation”](https://www.ot.gr/wp-content/uploads/2022/12/1-4-scaled.jpg)
Confirming a relevant OT publication, PPC S.A., DEPA Commercial and Damco Energy of the Kopelouzos Group signed an agreement for PPC’s acquisition of 51% of the shares of the company with the name “Alexandroupolis Power Generation Sole Proprietorship S.A.” and the acquisition by DEPA Commercial of 29% of the same company. Damco Energy of the Kopelouzos Group retains 20% and will participate in the new structure.
The company in question is planning the construction and operation of a new electricity production unit fueled by natural gas, in Alexandroupolis. Construction of the new plant will begin in the first quarter of 2023 and is expected to be ready by the end of 2025.
The benefits of the construction of the new Power Plant:
• The unit will have a nominal capacity of 840MW and is expected to be the most efficient unit in the country, with an efficiency factor of 63%. It is expected to have the lowest variable costs among thermal units, which will enable it to enter the wholesale market first with a high utilization factor,
• The Power Generation Unit and the 400 kV Substation are being developed on a total area of 181,181 m2, in the Industrial Area of Alexandroupolis, at the hub of natural gas sources and routes. The unit will be able to supply natural gas directly from GasTrade’s Alexandroupolis FSRU, achieving large savings, without supply risk,
• The unit will be connected to the Nea Santa High Voltage substation, ideally placed for electricity exports to neighboring countries, which are not expected to operate new natural gas plants to cover their needs in the coming years.
The agreement was signed yesterday, Wednesday, December 21, by the President and CEO of PPC, Mr. Georgios Stassis, the President and CEO of DEPA, Mr. Ioannis Papadopoulos and Konstantinos Xifaras and the Managing Director of the Kopelouzos Group, Mr. Christos Kopelouzos. The signing took place at the Ministry of Foreign Affairs in the presence of the Minister of Environment and Energy, Mr. Kostas Skrekas.
The Minister of Environment and Energy, Mr. Kostas Skrekas, after the signing of the agreement, noted that the deal was another strong link in the chain of efforts to shield Greece’s energy sufficiency. The new power generation unit in Alexandroupolis is located at a key point for the security of supply in Greece and the wider region, directly connected to the FSRU of Alexandroupolis, and a breath away from the Greek-Bulgarian IGB pipeline while at the same time it will be able to export electricity to all neighboring countries
Referring to the importance of the agreement, the President and CEO of PPC Mr. Georgios Stassis noted that clean energy is at the heart of the PPC’s strategic planning. This includes renewable energy sources, storage methods and “green” hydrogen, which in PPC’s opinion will form the backbone of the Electricity system in the coming years, while natural gas still has a key role to play. New natural gas plants must be flexible and as efficient as possible and ultimately have the potential to be part of a zero-emissions system and must be able to use other fuels, such as hydrogen for example. Any investment in combined cycle gas turbines, the so-called CCGTs, will not only not deviate from the strategic objectives of the European Green Deal but will instead serve an even smoother transition to it.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Massive Wildfire Front North of Athens; Evacuations Continue](https://www.ot.gr/wp-content/uploads/2024/08/DSC_0559-600x399.jpg)
Massive Wildfire Front North of Athens; Evacuations Continue
Τhe conflagration in northeast Attica prefecture (greater Athens area) erupted instantaneously amid gusty winds near the township of Varnavas, before spreading south towards Mt. Penteli
![Greek Industrial Production Up by 9.5% in June 2024](https://www.ot.gr/wp-content/uploads/2024/08/industry.jpg)
Greek Industrial Production Up by 9.5% in June 2024
The Overall IPI in June 2023 decreased by 3.0% compared with the corresponding index in June 2022.
![Social Security Fund Employee Arrested for Demanding Bribe](https://www.ot.gr/wp-content/uploads/2024/08/cash-600x338.jpg)
Social Security Fund Employee Arrested for Demanding Bribe
Police said woman, 49, was nabbed 'red-handed' after receiving a folder filled with 4,000€, ostensibly to 'facilitate' the issuance of a disability pension
![Greek Road Tourism Booms, Eyeing Record 2024](https://www.ot.gr/wp-content/uploads/2024/08/gps-navigator-in-the-car-P3ACQVK-1-600x364.jpg)
Greek Road Tourism Booms, Eyeing Record 2024
The Kipoi (Kipi) border station recorded the highest absolute increase, with 457,000 arrivals, an increase of 115,000 or 33.5%.
![Greek Doctors Issue Safety Advice for Vacationers](https://www.ot.gr/wp-content/uploads/2024/08/shutterstock_1061985551-2048x1365-1-600x400.jpg)
Greek Doctors Issue Safety Advice for Vacationers
The Athens Medical Association offers tips to prevent accidents and health problems during the summer holidays.
![Deadline for Self-Employed Professionals to Register for Inter-Bank Payment System Pushed Back a Few Days](https://www.ot.gr/wp-content/uploads/2024/08/vat-2048x1536-1-600x450.jpg)
Deadline for Self-Employed Professionals to Register for Inter-Bank Payment System Pushed Back a Few Days
Greece’s independent tax bureau, AADE, announced the two-day deadline extension this week, given that the previous deadline of Aug. 31 fell on a Saturday
![Capital Economics: Greek GDP Boosted by Tourism](https://www.ot.gr/wp-content/uploads/2024/07/02tourismos10-600x375.jpg)
Capital Economics: Greek GDP Boosted by Tourism
The independent economic research business based in London appears reassuring regarding the effects of climate change on tourist activity.
![Int’l Students Will Soon Need ETIAS for Stays in Europe](https://www.ot.gr/wp-content/uploads/2024/08/shutterstock_620538449-2048x1365-1-600x400.jpg)
Int’l Students Will Soon Need ETIAS for Stays in Europe
Starting next year, foreign nationals planning to study in Europe will be required to present ETIAS approval for entry and short-term stays.
![Ice Cream in Greece Among Europe’s Costliest](https://www.ot.gr/wp-content/uploads/2024/08/ice-cream-@OT-600x400.jpg)
Ice Cream in Greece Among Europe’s Costliest
Ice cream in Greece is becoming a costly pleasure with a liter selling for at least 3.7 euros in 2023, among Europe's most expensive.
![Eurobank Completes Public Offer for Full Acquisition of Hellenic Bank](https://www.ot.gr/wp-content/uploads/2024/08/eurobank-1-600x373.jpg)
Eurobank Completes Public Offer for Full Acquisition of Hellenic Bank
Looking ahead, Eurobank aims to fully integrate Hellenic Bank’s accounting operations, with this process slated to begin in the third quarter of 2024.