PPC to buy 210-MW duo of Romanian PV projects from Mytilineos
- The green energy unit of Greek power utility PPC SA (ATH: PPC) has actually clinched an in-principle agreement with the residential commercial team Mytilineos SA (FRA: MYH) to get a 210-MW portfolio of solar projects in Romania.
Under the offer, Mytilineos will certainly mount the capacity as well as move its ownership to PPC Renewables, the latter's parent said in a bourse filing on Friday. Financial information were kept under wraps.
The portfolio covered by the agreement consists of two solar photovoltaic (PV) parks in southerly Romania, near Bucharest. The bigger one, the 130-MW Kinisis system, is shovel-ready and also is planned to enter building and construction very early next year. The 2nd project of 80 MW is anticipated to reach the read-to-build stage by the very first quarter of 2023.
Each of both PV project was created by Mytlineos, which will certainly care for their building. Both plants are slated to start commercial operations in 2024.
As part of its 2022-2026 service strategy, PPC aims to grow its mounted renewables fleet to 7.2 GW by 2024 and 9.5 GW by 2026 and also move far from coal. The goal will certainly be gotten to with a financial investment of EUR 9.3 billion (USD 9.92 bn).