
PPC is attempting to open a new chapter, perhaps the most important, in its 72-year history in 2023.
The issue has to do with its attempt to go beyond Greek borders either by acquiring energy assets or by developing power generation infrastructures that will make its activities outward-looking.
Greece’s PPC: The benefits of the acquisition of Enel’s assets in Romania
The state company‘s moves are geostrategic in nature as they come amid the energy crisis and geopolitical realignments triggered by the war in Ukraine.
The Greek company is growing through four business deals and developing a key role in the transfer of energy in the Balkan region.
Hydroelectrics in North Macedonia
One of PPC’s business deals that has not become widely known is its participation in a tender of North Macedonia for the concession of exploitation of the waters of the “Black River” in order to develop the Cebren large hydroelectric production project.
The Greek company is the only one that submitted a binding offer for the construction of a 330 MW hydroelectric power station. The power generation capacity is 1,000 to 1,200 GWh per year, capable of meeting the electricity needs of 200,000 households.
The government of North Macedonia has recognized PPC as the only company that submitted a bid, however, administrative procedures are still pending in order to award the project in favor of the company.
The potential activity of PPC in the neighboring country is considered by analysts to be of strategic importance as the Greek company with the development of Cebren assumes an important role in terms of the security of the state’s energy supply. At the same time, it expands its portfolio with competitive energy sources, capable of providing low electricity costs to its customers both inside and outside Greece.
Enel
Almost a month remains until the deadline (end of January) for the completion of PPC’s exclusive negotiations with Italian energy giant Enel for the acquisition of the latter’s infrastructure and assets in Romania.
The specific assets are considered energy “fillets” by analysts and their acquisition by the Greek company leads it to conquer an important geostrategic position in the Balkans. Romania is an energy transit corridor to countries neighboring Russia that are hungry for alternative sources of supply.
If the negotiations are successful, PPC will take under its umbrella assets worth 1.2 to 1.3 billion. euro. Among them are wind farms in operation with a total capacity of 534 MW, 3 million customers and an electricity distribution network of 130,000 km.
Mytilineos
PPC does not enter Romania only through Enel.
Recently, PPC Renewables subsidiary announced an agreement with Mytilineos for the development, construction and sale of a solar power portfolio of approximately 210MW in Romania.
This portfolio consists of two solar parks, which are expected to enter commercial operation during 2024. Both projects were developed by Mytilineos, which will also undertake the construction.
The projects in question are located in the southern region of Romania, near Bucharest. In particular, the largest of them is Kinisis, a photovoltaic park ready for construction in early 2023 (Ready to Build) with a capacity of 130 MW. The remaining 80MW will be ready to be built by Q1 2023.
Upon completion of construction, the photovoltaics will be transferred to PPC Renewables.
The Alexandroupolis CCGT
The recent deal between PPC, DEPA Commercial and Damco Energy of the Kopelouzos group for the development and construction of natural gas-fueled power plants in Alexandroupolis is also considered of strategic importance for the security of the energy supply of the Balkan region.
The 840 MW CCGT is 51% owned by PPC, 29% by DEPA Emporias and 20% by Damco Energy. 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.


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