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

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February 12, 2018

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Published:

February 12, 2018

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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.

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