SKOPJE (Macedonia), April 18 (SeeNews) – Greece’s state-owned Public Power Corporation (PPC) said it has approved the acquisition of the Macedonian electricity trading and supply company EDS Group for 4.8 million euro ($5.9 million).
This acquisition is part of the strategy of expansion of PPC's activities abroad and specifically in the Balkans region where it aims at becoming a leading force in view of the upcoming integration of electricity markets promoted by the European Union, PPC said in a statement earlier this week.
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EDS Group, founded in 2012, has subsidiaries in Serbia, Slovakia and Kosovo. The company is a member of the Hungarian Power Exchange (HUPX) and has electricity trading licences in Serbia, Kosovo, Croatia, Bulgaria and Hungary.
EDS Group provides electricity to large industries and businesses Its customer portfolio includes 40% of corporations with more than 50 employees, with a total capacity of 320 MW, according to the statement.
PPC is the biggest power producer and electricity supply company in Greece with approximately 7.4 million customers. PPC currently holds assets in lignite mines, power generation, transmission and distribution.
($ = 0.80817 euro)