WASHINGTON – The Public Power Corporation’s (PPC) plans to penetrate the region of the Western Balkans and the Southeast Mediterranean were presented by PPC president and CEO George Stassis to the US Assistant Secretary of State for Energy Resources, Ambassador Geoffrey Pyatt, with whom he met in Washington.
Stassis also outlined the organisation’s business transformation model.
PPC has already completed the acquisition of ENEL Romania, which includes networks, the supply activity and RES units, while the new business plan presented recently includes the expansion to the Bulgarian market and/or the wider region, where the group intends to have 1.1 GW of installed capacity by 2030.
The energy corridor ensures synergies in the production from renewable sources and opportunities for cross-border electricity trade, while it is an important link in the energy part of the Three Seas Initiative which Greece recently joined and is a cooperation project among the countries of the Baltic, the Adriatic and Black Sea.
PPC sources stated that the penetration of the company in the region is considered an element that reduces the risk and facilitates the transition of the energy systems of the countries to the next day, that includes more RES and clearly less dependence on Russian natural gas.