Renewables

PPC Renewables, Intrakat join forces for 2.7 GW in renewables

PPC Renewables Intrakat join forces 2 7 GW renewables

Photo: PPC Renewables

Published

December 20, 2023

Country

Comments

comments icon

0

Share

Published:

December 20, 2023

Country:

Comments:

comments icon

0

Share

Public Power Corp. (PPC) and Intrakat Group signed a deal establishing strategic cooperation between PPC Renewables and Intrakat in the joint development of a portfolio of renewable electricity projects with a total capacity of up to 2.7 GW.

Intrakat Group will transfer six renewable energy projects in operation and under development, with a total capacity of approximately 164 MW, to PPC Renewables. At the same time, PPC Renewables is entering the ownership of Intrakat Group’s firms developing projects with a total capacity of 1.6 GW, with 49%.

It is the result of a binding deal for strategic cooperation for a portfolio of up to 2.7 GW, the two Greek companies said. The transaction in which PPC Renewables, the green energy arm of Power Public Corp. or PPC, is becoming a shareholder corresponds to a combined enterprise value of EUR 100 million, according to the update.

The joint investments in the entire potential capacity are valued at over EUR 1 billion in total, the announcement revealed. The completion of the deal is expected by the end of February, the future partners added.

The joint investments in the entire potential capacity are valued at over EUR 1 billion in total, PPC Renewables and Intrakat said

The agreement stipulates that PPC Renewables will take over Intrakat’s wind farm Fragkaki (15 MW) on the island of Andros and soon-to-be-commissioned wind power plant Kastri on Evia (Euboea), of 5 MW. Additionally, it is getting projects under development of 144 MW in total: Zigourolivado, Timenio, Kakodiavato and Karkaros.

Founded in 1987, Intrakat is active in the construction business in Southeast Europe. The company is listed on the Athens Stock Exchange since 2001.

PPC Renewables said it has 700 MW in operational capacity and 1.3 GW in construction or late-stage development. Earlier this month, it said its Agios Christoforos 1 photovoltaic plant of 65 MW near Ptolemaida entered full operation. The facility of almost 120,000 bifacial modules was installed on depleted open cast lignite mines. Annual output is estimated at 100 GWh.

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 drafts just transition action plan public debate

Serbia drafts just transition action plan

30 May 2025 - The Ministry of Mining and Energy has published a draft just transition action plan and launched a public debate

Regional Power Sector Exchange Western Balkans disitribution system operator dso grids ohrid giz

Third Regional Power Sector Exchange in Ohrid: Power grids at core of energy transition

30 May 2025 - The third Regional Power Sector Exchange of the Western Balkans gathered over 80 energy professionals from the Western Balkans

two solar power plants egesa enerji vojvodina

Turkish Egesa Enerji to build two solar power plants in Serbia’s Vojvodina province

30 May 2025 - Turkish company Egesa Enerji has launched a project to build two solar power plants in Vojvodina, with a total nominal capacity of 8.6 MW

Green for Growth Fund partnership Swedish International Development Cooperation Agency Sida

Green for Growth Fund launches partnership with Swedish International Development Cooperation Agency

30 May 2025 - GGF and the Swedish International Development Cooperation Agency are expanding green lending in the Western Balkans and the EU's Eastern Neighborhood