PPC Renewables, a subsidiary of power utility PPC, and construction group Intrakat have just announced a deal promising to greatly boost the former’s portfolio of wind energy projects and accelerate the development of the latter’s RES portfolio.
The overwhelming majority of RES units included in the agreement are wind energy projects, facilitating renewable energy production for PPC Renewables around the clock, not just during the daytime limits of PV-related generation.
PPC Renewables is taking over a 164-MW wind energy capacity, plus virtually half of a 1.6-GW portfolio maintained by Intrakat group companies. All these acquisitions concern wind energy parks at different stages of development.
The deal allies PPC with a large construction group, while also linking Intracat with a Greek energy giant that possesses expertise in energy production and management, ensuring rapid development of the construction group’s renewable energy portfolio.
The 164-MW portfolio of wind energy park projects acquired by PPC is comprised of 20 MW in projects already operating and 144 MW in projects in development.
Also, PPC is acquiring a 49 percent stake in the Intrakat group’s holding companies, representing roughly 1.6 GW in RES projects, with the right to acquire a majority stake in the future.
