Helleniq Energy aims to radically reform Elpedison in order to render it a leading company in the energy sector.
The management of the Helleniq Energy group and CEO Andreas Shiamisis clarified, among other things, the “day after” the transaction that “we are not taking the company to stay stable.”
Helleniq Energy announced in a relevant corporate announcement on the Athens Stock Exchange the acquisition of 50% of Elpedison from the other shareholder Edison for a total price of 164 million euros, which – under certain conditions – may increase up to 195 million euros. Commenting on the amount of the price, the group’s CEO pointed out that this corresponds to the basic estimates for the value of the company, clarifying that “we do not believe that we gave a lot of money. It is a valuation that represents what we believe the company is worth.”
The group’s strategic planning for the company is directly related to the overall objectives under “Vision 2025”, adopting a synergy approach based on the group’s broad activity and international footprint. An additional factor that will mark the company’s course from now on is RES, with the group having already invested half a billion euros in project development and planning similar investments for the immediate future.
In this light, Shiamisis mentioned, market activity under a “collaborative system” regime can ensure better returns in both the RES segment and the electricity segment, where Elpedison traditionally operates.
New markets
Responding to a relevant question about the possibility of expanding to markets outside Greece, the group’s management confirmed the possibility, noting – among other things – that “I consider it a given that we will examine further expansion to markets outside Greece, leveraging the synergy of Helleniq Renewables-Elpedison and Helleniq Energy. As for the procedural part, the agreement has been concluded at the level of commitments with formal completion expected within the next 6 to 8 months.”
