Giants joining forces in RES
The agreement Public Power Corporation signed on Wednesday through its PPC Renewables subsidiary with the Copelouzos and Samaras groups for the acquisition of shares in the company Thrakiki Wind 1 SA brings the utility ahead in the race for offshore wind farms, given its license for the 216-megawatt offshore wind park off Alexandroupoli.
The agreement foresees that PPC Renewables will become the sole shareholder in Thrakiki Wind 1. The agreement secures PPC Renewables a lead in the new market of offshore wind farms and at the same time paves the way for a wider business alliance for the development of the first pilot projects off Alexandroupoli, characterized as a “go-to area.”
Projects developed in these areas are, in accordance with European legislation that has been incorporated into national legislation, exempt from the environmental licensing process.
In addition to that wind farm, a 485 MW project belonging to Terna Energy will also be developed in the same area.
Terna Energy and the Copelouzos Group had started discussions for the joint development of the two projects with the first step of collaboration being the studies stage, aiming at economies of scale.
PPC Renewables has already started the first contacts with Terna Energy in the same direction, but also with the Vardinogiannis group, which was also in discussions with the two groups about entering a joint venture for the two pilot projects.
It should be noted that PPC and Vardinogiannis’ Motor Oil have already collaborated in the RES sector. Through their joint company Hellenic Hydrogen, PPC and Motor Oil have already planned the first investment of 130 million euros toward the production of 12,000 tons of renewable hydrogen on an annual basis at the facilities of PPC’s former lignite units in Amyntaio and with the prospect of expansion to double the power electrolysis unit from 100 MW to 200 MW.
The aim of the consortium is to proceed with two more projects of similar size in the lignite area of Megalopolis and in the wider area of the Corinth refinery Motor Oil has.
