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Greek power company PPC and German energy giant RWE reached an agreement
in the middle of this month.
The agreement will pave the way
for a joint venture this summer.
According to the agreement, the two parties plan to establish a joint venture to jointly develop renewable energy
.
RWE is expected to become the majority shareholder
with a 51% stake.
The two parties will develop projects
with a total capacity of 1 GW through new entities in three to five years.
It is reported that the government-controlled PPC will bring in licensed projects
that are not under construction or concession from PPC Renewables' portfolio.
At the same time, its German partners are reviewing suitable projects
with the help of institutional consultants.
PPC and RWE reportedly plan to develop the first projects in early 2022, prioritizing projects
in the Greek region of Western Macedonia.
In December, PPC announced plans to increase its installed renewable energy capacity to 1,500 MW by 2023 from the then 165 MW and committed to investing €3.
4 billion to add more renewable energy and improve its distribution channels
.
Greek power company PPC and German energy giant RWE reached an agreement
in the middle of this month.
The agreement will pave the way
for a joint venture this summer.
According to the agreement, the two parties plan to establish a joint venture to jointly develop renewable energy
.
RWE is expected to become the majority shareholder
with a 51% stake.
The two parties will develop projects
with a total capacity of 1 GW through new entities in three to five years.
It is reported that the government-controlled PPC will bring in licensed projects
that are not under construction or concession from PPC Renewables' portfolio.
At the same time, its German partners are reviewing suitable projects
with the help of institutional consultants.
PPC and RWE reportedly plan to develop the first projects in early 2022, prioritizing projects
in the Greek region of Western Macedonia.
In December, PPC announced plans to increase its installed renewable energy capacity to 1,500 MW by 2023 from the then 165 MW and committed to investing €3.
4 billion to add more renewable energy and improve its distribution channels
.
