Greek power utility PPC’s takeover agreement for Italian group ENEL’s subsidiary ENEL Romania will be completed by September, PPC’s chief executive officer Giorgos Stassis announced during the presentation of the company’s first-half results.
As soon as the takeover is completed, PPC will stage a Capital Markets Day to update investors on its updated strategic plan.
New targets can be anticipated as PPC’s business plan will include an injection of new data linked to the ENEL Romania takeover, substantially increasing PPC’s financial performance.
Stassis confirmed PPC’s target for an EBITA figure of 1.2 billion euros in 2023, adding that management will have decided on the distribution of dividends for 2023 at the end of the second half. A percentage of PPC’s profit can be accepted to be distributed in 2024.
According to data, RES projects either already operating or currently being developed represent a total capacity of 1.6 GW, just over 30 percent of PPC’s 5.1 GW target set for 2026.
Of this total, 228 MW represents new projects in operation, 451 MW represents projects for which contractor procedures are in progress, 100 MW concerns storage systems, 250 MW concerns projects that have secured connection terms, and 640 MW represents RES projects that have met environmental requirements and are now awaiting connection terms.
