PPC signed a Cooperation Framework Agreement (CFA) with MYTILINEOS Energy & Metals for the development and construction of a portfolio of photovoltaic projects up to 2000MW in Italy, Bulgaria, Croatia and Romania. The value of the agreement is estimated at up to €2 billion with an implementation horizon of the next three years.

Specifically, as stated by PPC in its announcement, 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 located in various stages of development. MYTILINEOS undertakes the development and construction of the projects in question, which will be acquired by PPC Group upon completion of their connection to the electrical grids of the above countries.

The experience of MYTILINEOS in the implementation of complex RES projects abroad was a catalyst for PPC’s trust in the cooperation of the parties and is a guarantee for the successful implementation of the agreement, the announcement emphasizes.

It is also reported that the framework agreement of 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 from
atmosphere 3.4 million tons of CO2 pollution.

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. With this agreement, PPC Group will acquire RES projects in addition to Romania, where it already has a significant presence, and in three new countries, namely 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, with an expanded and complementary RES portfolio, PPC Group intends to take advantage of the different meteorological conditions in each region.

Finally, it is noted that PPC Group aims to have a total of 8.9 GW of installed capacity from RES in 2026.