The acquisition of Enel Romania means a 55% increase in PPC customers
The addition of Enel Romania to the PPC group leads to a significant increase in the size of the company in a number of areas (number of customers, production base, networks) while on a financial level the operating profits (EBITDA) are enhanced by 300-350 million euros.
This means that the group’s EBITDA, which is expected to reach 1.2 billion euros this year, would be over 1.5 billion with a full (12-month) integration of the sizes of the subsidiary in Romania, as well as that the objectives of the existing business plan are achieved 18 months earlier.
These result from the briefing of stock market analysts on PPC’s 9-month results (announced earlier) held tonight by the company’s president and CEO George Stassis, who presented in detail the new landscape that is emerging after the acquisition of Enel Romania and the agreement for the acquisition of Kotsovolos.
In particular, the acquisition of Enel Romania means an increase of PPC customers by 55% (from 5.6 to 8.7 million) of RES production potential by 23% (from 3.9 to 4.8 gigawatts), of the under development capacity by 50% (from 10 to 15 gigawatts), the length of distribution networks by 133,000 kilometers and recurring EBITDA by 300 million (from 1.2 to 1.5 billion).
For Kotsovolos it was pointed out that it can act as a catalyst for a holistic approach to consumers with a comprehensive range of products and services beyond energy: installation of photovoltaic and storage units, distribution network, installation and maintenance of devices, financial services (consumer loans, insurance, payments ), etc.
The management of PPC also presented the development path of RES: this month 669 megawatt units are in operation, another 355 megawatts will be added in the next 6 months and 1.2 gigawatts in 12-18 months. The ultimate goal is to develop 5.1 gigawatt units of which 4.9 have already practically cleared licensing.
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