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PPC, Mytilineos ink deal for 2 GW solar in Italy, Balkans

PPC, Mytilineos ink deal for 2 GW solar in Italy, Balkans

Date: April 12th 2024

Author: Maja Žuvela

Category: En.vision

Topic: Electricity , Renewables , Economy , En.vision

The Greek PPC Group and Mytilineos Energy & Metals inked a deal to build up to 2 GW of solar capacity in Croatia, Romania, Bulgaria and Italy over the next three years.

In a statement issued late on Thursday, the companies said their cooperation framework agreement (CFA) entails around 90 solar power projects at various stages of development worth up to EUR 2bn.

Under the CFA, approximately 516 MW, 503 MW, 500 MW and 445 MW in capacity should be rolled out in Romania, Italy, Bulgaria and Croatia, respectively, the companies noted.

Mytilineos will undertake the development and construction of these projects, which will then be acquired by PPC Group “upon completion of their connection to the electricity grid of the aforementioned countries,” the companies said in the statement.

SEE growth plans

For PPC Group, this latest deal constitutes an important step towards the implementation of the recently presented strategy for growth in south-eastern Europe, with green energy as a key pillar. It will enable it to acquire renewables projects outside Romania, where it already has a significant presence, PPC said, adding that it aims to have a total of 8.9 GW of installed green capacity by 2026.

Meanwhile, for Mytilineos the agreement represents part of its broader growth strategy for the implementation of its international portfolio, including the recent entry onto the Canadian market with 1.5 GW of projects. Its total portfolio following the PPC strategic cooperation deal and the Canada investment encompasses 10.5 GW.



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