The strategic pursuit of PPC to play an active role in the Romanian energy market, upgrading its already large portfolio, is highlighted by the recent developments.
The first one concerns the completion of the acquisition of an 84 MW wind farm by Lukoil companies and the second one the modernization of a central substation with the implementation of optimized applications.
According to company officials who spoke to “Naftemporiki”, the two actions, just a short time after the finalization of the acquisition of Enel’s activities in Romania, confirm the compliance of “words and works” on the part of PPC regarding the intention to further expand its presence in the neighboring country’s market, with a portfolio that extends from the production of “green” energy to its distribution through the development and upgrading of distribution networks.
More specifically, PPC Renewables announced that Lukoil group’s European subsidiaries acquired 100% of Land Power s.r.l., which owns a wind farm in Romania with a total installed capacity of 84 MW. The wind farm generates more than 200 GWh per year, as it is located in the Dorobantu and Topolog regions, which have the best wind potential in the country.
It is noted that the RES portfolio of the Greek group, after the acquisition of Enel in Romania, is estimated at approximately 4.6 GW and includes a number of “green” technologies, such as photovoltaic, wind, hydroelectric, etc. Retele Electrice Muntenia (member of PPC Group, formerly E-Distributie Muntenia), which is one of Romania’s power grid operators, has proceeded with the modernization of the country’s largest central substation, the Northern Power Station in Bucharest.
The station distributes electricity to around 70,000 customers, including the headquarters of the Romanian government and several hospitals. The investment for this particular upgrade was 70 million leu (about 14 million euros). It is worth noting that the project was particularly complex and demanding, as the complete remodeling of the building and the replacement of all energy equipment was carried out without interrupting the supply of electricity to customers.
The company aims at the constant upgrading of Retele Electrice Muntenia’s networks, ensuring resilience and flexibility, their digital transformation, but also their transition to a green era, with sustainability for the benefit of both consumers and the planet. It is recalled that PPC Group completed the acquisition of Enel’s activities in Romania in 2023.
It now has a total of almost 9 million customers in Greece and Romania.
Finally, the group’s management made known during the presentation of its strategic plans at the Capital Investment Day in London about a month ago, that PPC is investigating the further geographical dispersion of its activities, including both other Balkan countries and neighboring Italy, one of the fastest growing green energy markets.
