Greek PPC says it is close to acquire leading electricity trading company in FYROM - Hydro Balkans
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Greek PPC says it is close to acquire leading electricity trading company in FYROM

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Public Power Corporation (PPC), the Greek national power generation company, has announced that it is close to a deal for the acquisition of Energy Delivery Solutions (EDS), the leading electricity trading company in Former Yugoslav Republic of Macedonia (FYROM).
In its statement, PPC said that this initiative comes within the framework of its business strategic planning to expand its activities in the Balkans’ regional electricity energy market in the framework of an EU plan for the integration of the electricity energy market in Europe.

When realized, this agreement will introduce PPC to the business of electricity trade.

Greek PPC is one of the biggest electricity companies in Southeast Europe, with a market share of 85% in Greece. The company’s total assets are over EUR 15 billion and annual revenues over EUR 5 billion, according to the company’s site. PPC owns the Distribution Network Operator in Greece (HEDNO), and PPC Renewables, one of the first companies in Europe to produce electricity from renewable energy sources.

According to FYROM’s media Republika, PPC signed a letter of intent to purchase the EDS Group and all its subsidiaries in Southeast Europe. Transfer of shares will be executed in accordance with the laws FYROM, and once procedures are completed, PPC will take over the management of EDS.

EDS Group is a member of the Hungarian Power Exchange (HUPX) and owns subsidiaries in Serbia, Kosovo* and Slovakia. It has electricity trading licenses in Serbia, Kosovo*, Croatia, Bulgaria, and Hungary.

In Macedonia, EDS is leading electricity trading company covering more than 73% of the liberalized market. In Croatia, EDS is among the 5 largest suppliers. In Serbia, EDS has been active in retail electricity market since 2016, and at the end of its first year of operation it already had a customer portfolio of 10 MW.

In the last three fiscal years (2013 – 2015), the annual turnover for EDS was EUR 53 million, EUR 77 million and EUR 103 million. The expected annual turnover in 2016 is estimated at EUR 110 million, according to EDS in Serbia.

PPC also interested in Albania and Turkey
PPC is also examining Albanian and Turkish markets, EnergyPress writes. In Albania, where PPC has already established a subsidiary, the Greek power utility company is interested in investing in hydropower utilities.

According to PPC’s chief executive Manolis Panagiotakis, PPC is interested to acquire the development rights for a power station in Eskisehir area, in the northwest of Turkey, with Chinese firm Shenhua as the investment’s partner. The Eskisehir plan entails the development of a 1,080-MW power plant, according to Turkish media.

Source: balkangreenenergynews.com

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