Giants joining forces in RES

The agreement Public Power Corporation signed on Wednesday through its PPC Renewables subsidiary with the Copelouzos and Samaras groups for the acquisition of shares in the company Thrakiki Wind 1 SA brings the utility ahead in the race for offshore wind farms, given its license for the 216-megawatt offshore wind park off Alexandroupoli.

The agreement foresees that PPC Renewables will become the sole shareholder in Thrakiki Wind 1. The agreement secures PPC Renewables a lead in the new market of offshore wind farms and at the same time paves the way for a wider business alliance for the development of the first pilot projects off Alexandroupoli, characterized as a "go-to area."

Projects developed in these areas are, in accordance with European legislation that has been incorporated into national legislation, exempt from the environmental licensing process.

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