The state-controlled Public Power Corporation (PPC) has signed a significant cooperation framework agreement with the Copelouzos and Samaras Groups aimed at expanding its footprint in the renewable energy sector. The agreement encompasses the acquisition of an operational renewable energy portfolio totaling 66.6 MW, alongside the joint development of projects with up to 1.7 GW of capacity, and the purchase of a 20% stake in Elektroparagogi Alexandroupoli, which is developing an 840 MW Combined Cycle Gas Turbine (CCGT) unit.
The operational capacity includes two wind farms with a combined capacity of 43.3 MW, recently launched in Evia and Laconia, as well as solar power plants totaling 23.3 MW. This segment of the transaction is valued at €111 million.
Additionally, PPC will invest €106 million to acquire renewable energy projects currently under development, totaling 1.7 GW across various licensing stages in Greece. These projects will be developed in partnership with the Copelouzos and Samaras Groups.
PPC will also acquire a 20% stake in Elektroparagogi Alexandroupoli from Damco Energy for €27 million, raising its ownership to 71%, while DEPA Trade will retain the remaining 29%. This project aims to advance the construction of the new 840 MW CCGT plant in the Alexandroupoli industrial zone.
The finalization of the purchase, sale, and shareholder agreements is anticipated by the end of the year.
