PPC to decide on acquisition of EDS on Friday

Public Power Corporation is just one step before finalising an agreement to acquire EDS, an electricity energy distributor in the Former Yugoslav Republic of Macedonia, as all necessary financial and legal actions have been completed and the PPC’s board is expected to meet on Friday to formally approve the deal.

Manolis Panagiotakis, PPC’s chairman and CEO, said the acquisition is part of a strategic plan aiming to make PPC one of the key players in the Balkans ahead of an expected unification of energy markets in the European Union.

“Returning to Greece on Friday, PPC’s board council is scheduled to meet, to decide on the acquisition of EDS in Skopje…We believe that we will take the keys of the company in the next few weeks in Skopje. It is a significant step towards PPC’s opening in the Balkans and as I have said repeatedly, PPC’s strategic goal is to become a leader in the wider Balkan market”.

PPC’s chairman and CEO attended a global energy congress in Washington organised by Edison Electric Institute and met with representatives of other international energy companies to discuss technological and environmental challenges facing the future of the electricity energy sector.

“The main conclusion of the congress is that all electricity companies will adjust and contribute to tackling climate change, exploiting new technologies through a digitalisation of their activities, developing renewable energy sources and establishing electricity as the form of energy that will contribute to the improvement of the atmosphere and living quality, replacing other inferior forms of energy,” Panagiotakis said.