PPC Partners Up to Boost Renewable Energy Capacity in Greece

Greece’s Public Power Corp. (PPC) has announced a framework cooperation agreement on renewable energy with the Copelouzos and Samaras Groups.

The agreement includes the acquisition of a renewable energy portfolio in operation, with a total installed capacity of 66.6 MW. This acquisition concerns two wind farms with a total installed capacity of 43.3 MW, which were recently commissioned in southern Evia and Mani, in the Peloponnese, two regions with high wind potential, and photovoltaic parks with a total installed capacity of 23.3 MW that are already operational.

Additionally, PPC Group will acquire renewable energy projects under development with a total capacity of 1.7 GW in various areas within Greece, for a price of 106 million euros. These projects will be further developed in collaboration with the Copelouzos and Samaras Groups.

Finally, Greece’s largest energy supplier is set to acquire the 20% stake held by DAMCO ENERGY of the Copelouzos Group in Alexandroupolis Electricity Generation S.A. for 27 million euros, which will give PPC a 71%. Alexandroupolis Electricity Generation S.A. is actively proceeding with the construction of a new 840 MW Combined Cycle Gas Turbine (CCGT) power plant in the Alexandroupolis Industrial Park.

With this strategic agreement for the acquisition of operational and developing renewable energy projects from the Copelouzos and Samaras groups, PPC is taking a significant step towards its energy transformation in the domestic market.

This is a move that aims for the gradual phase-out of lignite units and an increase in renewable energy sources, with a particular emphasis on wind energy.

Source: tovima.com