ECONOMY

Last power supply deal between PPC, Mytilineos signed

last-power-supply-deal-between-ppc-mytilineos-signed

Athens-listed group Mytilineos on Wednesday announced the signing of an agreement with Public Power Corporation (PPC) for the supply of electricity to the Metallurgy Business Unit’s Aluminum of Greece industrial plant.

The agreement rubber-stamps the cooperation of two leading companies and their commitment to competitive electricity costs for the energy-intensive industry, in the context of the national industrial policy to safeguard the competitiveness of Greek companies to the benefit of the national economy.

This will be the last contract for the two companies after 60 years of uninterrupted cooperation as Mytilineos is committed – in the framework of its strategy for sustainable development – to reduce emissions by 30% in all its activities by 2030 and to achieve climate neutrality by 2050.

For the Metallurgy Business Unit in particular, Mytilineos aspires to set the example in its green transition by making a commitment to reduce absolute CO2 emissions by 65% and relative CO2 emissions (per ton of aluminum produced) by 75%.

By 2030, Aluminum of Greece will cover all of its electricity needs with RES, the company said in an announcement.

Speaking after the signing of the contract, Chairman and CEO Evangelos Mytilineos said: “Today we are signing our last contract with PPC. A collaboration that sealed the recent industrial history of Greece, is completed in the most appropriate way for both PPC and Mytilineos. For us, after 2023, a new era begins for the historic factory of Aluminum of Greece: a green and sustainable era, spearheading with national climate goals and the European Green Deal.”