Public Power Corporation (PPC) has announced the signing of a binding agreement for the acquisition of Evryo Group’s renewable energy portfolio in Romania.
This portfolio comprises 629 MW of operating assets, including 600 MW of onshore wind, 22 MW of hydro, 1 MW of solar photovoltaic and 6 MW of battery storage systems.
In addition, PPC is also acquiring around 145 MW of assets under development, which should considerably strengthen its capacity in Romania’s renewable energy sector.
This acquisition, with a total value of around 700 million euros, will enable PPC to double its renewable energy portfolio in Romania, bringing the total capacity of its operating portfolio to 5.3 GW.
The integration of these assets is part of PPC’s strategy to strengthen its presence in Southeast Europe, while diversifying its energy mix.
Diversification of PPC’s energy portfolio
With this transaction, PPC strengthens its commitment to the energy transition by adding large-scale wind power projects and hydroelectric facilities to its portfolio.
This diversification is crucial for PPC, which is seeking to consolidate its growth strategy in the region by integrating a variety of renewable technologies.
The agreement, which remains subject to antitrust approval and other customary conditions, is expected to be finalized by the fourth quarter of 2024.
Citigroup Global Markets Europe AG and Euroxx Securities SA are acting as financial advisors to PPC, while Clifford Chance is providing legal advice on the acquisition.
