PPC Renewables, Intrakat join forces for 2.7 GW in renewables

PPC Renewables Intrakat join forces 2 7 GW renewables

Photo: PPC Renewables


December 20, 2023






December 20, 2023





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


Monsson to merge its wind farm, PV unit in Romania into hybrid power plant with storage

20 February 2024 - Monsson Group is developing a hybrid wind-solar-storage project with the largest battery energy storage system in Romania

kozloduy hyndai nuclear unit

Hyundai shortlisted for installing new nuclear units in Kozloduy

20 February 2024 - Bulgaria has called on potential contractors to express interest in the construction of a new nuclear power plant with AP1000 technology

GGF UniCredit Bank Serbia EUR 50 million renewables loan

GGF deepens cooperation with UniCredit Bank Serbia with EUR 50 million renewables loan

20 February 2024 - UniCredit Bank Serbia obtained a EUR 50 million loan from GGF for utility-scale renewables projects, strengthening its ties with the fund

EU approves EUR 6 9 billion state aid for hydrogen infrastructure

EU approves EUR 6.9 billion in state aid for hydrogen infrastructure

19 February 2024 - Strategic hydrogen project IPCEI Hy2Infra, which seven EU member states developed jointly, got a green light from the European Commission