PPC Renewables and the Kopelouzo and Samara groups signed an agreement for the acquisition of shares in the company “THRAKIKI AEOLIKI 1 S.A.” which holds the Production License for the 216 MW Offshore Wind Park (OPP) off Alexandroupolis.

The Offshore Wind Park currently has a 216MW Production License and falls under the provisions of article 174 of Law 4964/2022 for the Pilot application of Offshore Wind Farms. It is planned to be installed in the sea area off Alexandroupolis and to be permanently based. The Hellenic Hydrocarbons and Energy Resources Management Company (EDEFYAP) has already issued a Research License concerning the marine area, which extends south of the coastline of the Evros Regional Unit and north-northeast of Samothraki and is designated as an area for the development of YAP pilot projects, with a total power of up to 600MW. The research area is part of the National Offshore Wind Development Program (EPA-YAP), the implementation of which will significantly contribute to the achievement of the national goal, as defined in the National Energy and Climate Plan (ESEK) under finalization.

The development, construction and operation of the Offshore Wind Park will make Greece a pioneer in the development of offshore wind energy in Southeast Europe and, at the same time, will create a strong domestic supply chain, strengthening the national economy, offering green jobs, and helping to accelerate the energy transition.

The parties will seek, through their cooperation, to capitalize on the extensive expertise, their experience and technical, commercial and financial know-how, in the design, development, implementation and operation of large-scale RES projects, with an emphasis on wind farms, with the aim of the fastest and most efficient development of this pilot offshore wind farm. The agreement provides that PPC Renewables will become the sole shareholder of “THRAKIKI AEOLIKI 1 S.A.”.

PricewaterhouseCoopers Business Solutions SA (PwC) acted as Financial Advisor and the Law Firm of Byza – Katrinakis and Associates, as Legal Advisor to PPC Renewables in the context of the acquisition. Norton Rose Fulbright acted as Legal Counsel on behalf of the Kopelouzou and Samara Groups.

The CEO of PPC Renewables, Mr. Konstantinos Mavros, stated: “This agreement is another strategic move for PPC Group, an important step for the development of offshore wind farms in Greece, and a confirmation of our determination to achieve a long-term, sustainable and socially beneficial development. Our country, with significant potential in the field of renewable energy sources, needs partnerships that will strengthen the local community, utilize local energy resources and provide sustainable development. I am confident that this collaboration will prove to be absolutely successful, adopting and combining the best practices, know-how and experience of both parties, and leading us to a common future of protecting the environment and producing sustainable energy for our country.”

The Managing Director of RES and Energy Storage of the Kopelouzo Group, Mr. Yannis Karydas, said: “The agreement with the company PPC RENEWABLES regarding the development and implementation of the offshore wind farm in Alexandroupolis is particularly important because the expertise and experience of PPC in the development and implementation of wind farms, combined with the expertise and know-how of the Kopelouzos Group will help in faster development of the offshore park, which will be one of the first to be implemented in our country, thus creating a new market with very important energy and economic benefits for our country, contributing not only to a faster energy transition to the green economy and its energy adequacy, but also in strengthening its productive fabric, developing the necessary infrastructure and supply chains, creating significant domestic added value in our country”.