George Stassis may have seen the PPC share close to the highest levels of the last 10 years (12.5 euros) while at the same time proposing as a “gift” the cancellation of 12.7 million own shares (corresponding to 3.33% of the share capital), but a new deal in the wind energy sector is the most important development. This is the 6th consecutive acquisition of the Company, which has been announced or completed since the beginning of 2024.
The new agreement concerns the acquisition of 66 MW in operation and 1.7 GW under development of “green” projects in Greece by the Copelouzos and Samaras Groups. At the same time, the deal also includes the acquisition of 20% of the Alexandroupolis CCGT station by DAMCO (Copelouzos), with PPC controlling 71%.
Stassis, who has been PPC CEO since 2019, announced in August the acquisition of a 774 MW RES portfolio in Romania from Macquarie for 700 million euros.
In April, PPC joined forces with Metlen, with the aim of developing 90 photovoltaic projects, with a capacity of 2,000 MW, in four different countries in Southeast Europe. A great deal worth around 2 billion euros.
Kotsovolos, Romania and Intrakat
In the same month, i.e. April, George Stassis completed the acquisition of Kotsovolos by Currys, which allowed PPC to enter the retail sector, but also to utilize the wide network of logistics and transport infrastructure of the store chain.
In March, he proceeded with the transfer of 100% of Land Power from Lukoil, which involved a wind farm in Romania, with a capacity of 84 MW.
Moreover, a mega deal with the Intrakat Group was announced in order to jointly develop a “green” portfolio, up to 2.7 GW of power, in an investment that could exceed 1 billion euros.
Value 4.6 billion euros
All the above initiatives bear the stamp of George Stassis and confirm his intention to create an integrated and “green” electricity provider.
A vision, which is beginning to be reflected in the Athens Stock Exchange, where PPC is worth more than 4.6 billion euros, not far from the multi-year high of 12.5 euros/share.
