BUSINESS

PPC signs RES deal with RDP

CHRYSSA LIAGGOU

TAGS: Energy

EDP Renewables, a subsidiary of Portugal’s power utility EDP, is the second partner with which Greece’s Public Power Corporation (PPC) will seek to cooperate in the field of renewable energy sources for the implementation of the country’s ambitious plan to install RES capacity of 1 gigawatt per annum by 2024.

Through its PPC Renewables subsidiary, PPC has signed a memorandum of understanding with EDP Renewables, according to which the two sides will explore possibilities for cooperation with a view to constructing and developing RES projects in Greece. The projects will be developed according to the corporate practices of each side, based on the optimum structure of cooperation and most suitable business model.

PPC stated that the two sides will seek to develop RES projects of at least 400 MW on the basis of the Greek government’s ambitious targets for increasing the RES share in the country’s energy mix.

This is the second such memorandum PPC has signed, after that completed in December with Masdar Taaleri Generation (MTG), a consortium of Abu Dhabi’s RES company Masdar with Finnish wind and solar energy project development company Taaleri Energia.

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