The Public Power Corporation (PPC) continues its impressive deals, with its CEO George Stassis having completely changed the profile of the listed company, which was on the brink of collapse some years ago.
9 golden deals
The recently announced 700-million-euro deal to purchase a renewable energy portfolio of over 770MW in Romania is the latest in a long chain of big-deals made by Stassis who took over as CEO in 2019.
In April, the company announced another great deal worth up to 2 billion euros, collaborating with Metlen for the development of 90 photovoltaic projects in four different countries (Italy, Bulgaria, Croatia, Romania).
In December 2023 it had made a similar agreement with Intrakat for the development of RES, with a capacity of 2.7 GW, in an investment of more than 1 billion euros.
In the same month, PPC joined forces with the Kopelouzos – Samaras Groups for the development of an offshore wind farm in Alexandroupolis.
Last November, the company signed an agreement with Currys for the acquisition of the Kotsovolos stores.
In March 2023, the company entered into an agreement with Enel for the acquisition of the portfolio in Romania, paying the amount of 1.2 billion euros and assuming a “leading” role in the market of the Balkan country.
All these deals, which are signed by the CEO, have contributed decisively to the transformation of PPC, which today has an operational RES portfolio of 4.7 GW, to which 3.3 GW of power projects should be added (target for 8.9 GW by 2026).
Of course, none of this would have come true without the 2021 share capital increase, which significantly strengthened the company’s liquidity and power.
