PPC announced an agreement with the Copelouzos and Samaras Groups for the acquisition of the Renewable Energy Sources portfolio and a further stake in the Alexandroupolis natural gas plant.
Upon this agreement, PPC acquires, with a combination of cash and own shares:
– 66.6MW of onshore wind and solar farms in operation
– ~1.7GW of RES projects under development, of which 1,050MW wind parks
– The share (20%) of DAMCO ENERGY of the Copelouzos group in the Alexandroupolis Power Plant which is building the new 840 MW Combined Cycle Natural Gas Thermal Power Station. PPC already held a majority (51%) in Alexandroupolis CCGT Power Plant and with the additional 20% it acquires the statutory majority.
In particular:
The 66.6MW in operation that PPC Group is acquiring includes 2 wind farms with a total installed capacity of 43.3MW recently commissioned in southern Evia and Laconia, two areas with high wind potential, and photovoltaic parks with a total installed capacity of 23.3MW in operation. The transaction for the portfolio corresponds to an Enterprise Value of 111 million euros.
In addition, the PPC Group will acquire renewable energy projects under development with a total capacity of 1.7GW in various licensing phases and regions of the Greek territory, at a price of 106 million euros, which it will further develop with the Copelouzos and Samaras Groups.
Finally, PPC is acquiring the 20% held by DAMCO ENERGY of the Copelouzos group in the Alexandroupoli Power Plant, for 27 million euros, and will hold 71% and the statutory majority, with the remaining 29% belonging to DEPA Commercial. Alexandroupolis CCGT Power Plant is moving forward dynamically with the construction of the new Combined Cycle Natural Gas Thermal Power Station (CCGT) with a capacity of 840 MW in the industrial area of Alexandroupolis.
Completion of the definitive purchase and sale agreements and definitive shareholder agreements is expected by the end of the year.
