PPC Group and MYTILINEOS Energy & Metals signed a three-year strategic cooperation agreement for the development of a portfolio of 90 energy projects up to 2,000MW, in four countries.
More specifically, the agreement concerns approximately 90 photovoltaic projects owned by MYTILINEOS in Italy (503 MW), Romania (516 MW), Bulgaria (500 MW) and Croatia (445 MW) which are in various stages of development. MYTILINEOS undertakes the development and construction of the projects, which will be acquired by the PPC group upon completion of their connection to the electrical grids of the above countries.
The value of the agreement is estimated at up to 2 billion euros.
The experience of MYTILINEOS in the implementation of complex RES projects abroad was a catalyst for PPC’s trust as well as a guarantee for the successful implementation of the agreement.
The framework agreement between the two sides is a milestone for the leading role that Greek companies can play in the wider region and Europe’s energy security. The agreement is also an important moment for the energy transition, as the “green” energy projects that will be developed can meet the needs of 320,000 households and displace 3.4 million tons of CO2 pollution from the atmosphere.
PPC Group: Development in SE Europe
For PPC Group, the agreement is an important step in the implementation of the strategy it recently presented to the investment community for development in the Southeast Europe region, with green energy as a key pillar. Upon this agreement, PPC Group will acquire RES projects in addition to Romania, where it already has a significant presence, and in Italy, Bulgaria and Croatia.
PPC Group’s strategy includes expansion in Southeast Europe and exploiting the potential for value creation between countries, through the energy corridor that is being created. With its presence in different geographical areas, an expanded and complementary RES portfolio, the group intends to take advantage of the different meteorological conditions in each region, aiming to have a total of 8.9 GW of installed RES capacity in 2026.
MYTILINEOS Energy & Metals: Sustainable Development of M Renewables
For MYTILINEOS, this agreement is part of M Renewables’ broader strategic development for the implementation of its international portfolio, including the recent entry into the Canadian market with 1500 MW projects.
MYTILINEOS already holds a very important position and long-term experience in the markets that are part of the agreement, both in terms of development, construction (EPC) and operation (O&M) of projects.
