The doubling of its portfolio in Romania marks for PPC the completion of the acquisition of 629 MW of renewable energy projects from Evryo Group, which is controlled by Macquarie Asset Management. 

"With the doubling of our portfolio of operating RES in Romania, we are significantly strengthening our RES footprint and further diversifying our mix with projects located in Romania's most sought-after areas with high wind and hydro potential. The Romanian market has excellent wind potential and plays a strategic role for the PPC Group as we strengthen our RES network across the region," said Group President and CEO George Stassis.

DEAL

The acquisition, which was announced on August 6, 2024, includes:

• 600MW of onshore wind farms
• 22MW of small hydroelectric power plants
• 1 MW of floating photovoltaic farms
• 6 MW of operational energy storage systems
• 145MW of projects under development

Citigroup Global Markets Europe AG and Euroxx Securities SA acted as financial advisors, Clifford Chance as a legal advisor, and KPMG Advisory SRL and TÜV Hellas as financial and technical advisors, respectively.

BENEFIT

• The transaction, estimated to be worth approximately €700 million, will add approximately €100 million of EBITDA.
• The acquisition is a milestone in the PPC group's strategy to expand its RES portfolio. With the acquisition of an additional 629MW, the PPC group's total installed capacity in Romania almost doubles
• In addition, the completion of the acquisition further improves the group's position to exploit synergies for energy trading, energy marketing and risk management in the Romanian market
• This addition will result in the group's total RES portfolio increasing to 5.5GW and, at the same time, further strengthen its leading position as a RES provider in SE Europe.

DEVELOPMENT 

As a reminder, in the 2025-2027 investment plan, PPP foresees: 

• Development of 6.3 GW of RES by 2027 in Greece and SE Europe, with a target of 11.8 GW installed capacity by 2027. Today, about 60% of the RES to be added are in the construction phase, ready for construction or even in the tender process (bidding)
• Expansion of the vertically integrated model in Romania, with strong RES development to meet the energy needs of PPC Romania's large customer base
• Steady grid growth in Greece and Romania, where the Regulated Asset Base is expected to grow by 7.7% compound annual growth rate (CAGR) over three years to €6 billion in 2027.