PPC has completed the acquisition of the renewable energy portfolio of Evryo Group in Romania, which is controlled by Macquarie Asset Management.
This acquisition is an important milestone in the Group’s strategy to expand its Renewable Energy portfolio, as well as strengthening its commitment to the green transition throughout Southeastern Europe.
Following the acquisition of an additional 629MW, the total installed capacity of PPC Group in Romania almost doubles, strengthening the Group’s growth in the region and diversifying its activities in RES, as large wind power projects and hydroelectric plants are added.
The acquisition includes 600MW of onshore wind farms, 22MW of small hydropower plants, 1MW of floating photovoltaic park and 6MW of energy storage systems in operation, as well as an additional 145MW of projects under development.
This significant addition will result in the total RES portfolio of PPC Group increasing to 5.5GW and, at the same time, further strengthening its leading position as a renewable energy provider in Southeastern Europe.
The transaction, estimated at approximately 700 million, is structured to be in line with PPC Group’s financial policy, while it will add EBITDA of approximately 100 million, which will further support the Group’s strong growth trajectory.
PPC Group’s commitment to its leadership role in the RES sector
The Chairman and CEO of PPC Group, George Stassis, stated: “We are pleased with the completion of this acquisition, which constitutes a very important step for our overall growth strategy in Southeastern Europe. By doubling the portfolio of operating RES in Romania, we significantly strengthen our RES footprint and further diversify our mix, with projects located in the most sought-after areas of Romania, with high wind and hydroelectric potential. The Romanian market has excellent wind potential and plays a strategic role for PPC Group, as we strengthen our RES network across the region.”
