Renewables

Greece’s PPC plans to invest in wind, HPP and geothermal in Turkey

Greek's PPC plans to invest in wind, HPP and geothermal in Turkey

Photo: Pixabay

Published

February 12, 2018

Country

,

Comments

0

Share

Published:

February 12, 2018

Country:

,

Comments:

0

Share

Public Power Corporation (PPC), the Greek national power generation company is looking to invest in Turkey’s energy market, namely in wind, hydropower and geothermal projects.

Manolis Panagiotakis, PPC’s chairman and CEO believes that it is the right time for Greece “to have a vivid presence in Turkey”. Therefore, PPC has been working with an international consultancy to develop a strategy for the Turkish energy market, he said in an interview with Anadolu Agency.

With the clear plan to diversify its assets, PPC has been looking to invest more not only in Turkey but in the Balkan region and even further.

Panagiotakis says Greece is looking for cooperation and expansion of investment. In addition to getting involved in the wind sector, PPC is interested to acquire the development rights for a power station in Eskisehir area, in the northwest of Turkey, with Chinese firm Shenhua as the investment’s partner. The Eskisehir plan entails the development of a 1,080-MW power plant, according to Turkish media.

Talking to the Anadolu Agency, he said that PPC is interested in taking part in a geothermic investment in Cappadocia, Turkey’s central region.

The first step towards the Balkan involves the acquisition of EDS Group (Energy Delivery Solutions), the leading electricity trading company in Former Yugoslav Republic of Macedonia (FYROM).

In its recent statement, PPC said that this initiative comes within the framework of its business strategic planning to expand its activities in the Balkans’ regional electricity energy market in the framework of an EU plan for the integration of the electricity market in Europe.

When realized, this agreement will introduce PPC to the business of electricity trade.

Panagiotakis does not seem bothered about the current Greece-FYROM political agenda when it comes to the investment in the neighboring country, emphasizing that there are many years of cooperation between two parties.

“Our place there (in FYROM) may help us expand to other markets like Serbia, Kosovo and also Slovakia,” he added.

EDS Group is a member of the Hungarian Power Exchange (HUPX) and owns subsidiaries in Serbia, Kosovo* and Slovakia. It has electricity trading licenses in Serbia, Kosovo*, Croatia, Bulgaria, and Hungary.

 

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Serbia EPS no longer dependent on imports acting CEO Tomasevic

Serbia’s power utility EPS no longer dependent on imports, acting CEO claims

27 January 2023 - EPS is importing much less electricity this winter than last one and it is not dependent on imports, acting CEO Miroslav Tomašević said

Second unit of Krško nuclear power plant projected to come online in 2035

27 January 2023 - The second unit in the Krško nuclear power plant could be in operation in 2035, but project permits are still pending

Household solar power systems overload Cyprus electricity grid

Household solar power systems overload Cyprus electricity grid

27 January 2023 - The distribution and transmission system operators in Cyprus asked for a freeze in issuing licenses for small solar power installations for self-consumption

cwp montechevo solar montenegro

CWP enters Montenegrin renewables market with 400 MW solar project

26 January 2023 - The investment is valued at around EUR 360 million, while the development and construction of the project are planned in phases