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Oct 26, 2023 11:31 EEST
October 26 (SeeNews) - Greek utility Public Power Corporation (PPC) has completed the 1.24-billion-euro ($1.3 billion) acquisition of Italian utility Enel's assets in Romania.
Following the acquisition, PPC's customer base reached 9 million people, it said in a press release on Wednesday. The company's installed renewable energy storage (RES) capacity increased to approximately 4.4 GW, after the addition of the 600 MW owned in Romania by Enel.
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In Romania, PPC now also has some additional 5 GW of RES under development, previously owned by Enel. In the electricity and gas supply market, PPC now has over 3.1 million customers and 81 stores across the country. It owns the distribution network in 3 regions of the country, including Bucharest. It distributes energy to about one third of Romania with over 133,000 km of network.
"PPC's goal is to become the leading clean energy company in Southeast Europe. The acquisition of Enel's activities in Romania is an ideal choice both from a geographical and a business point of view," said Georgios Stassis, Chairman and CEO of PPC.
The European Commission approved the acquisition of Enel's assets in Romania by PPC in June.
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