Georgios Stassis, CEO of Public Power Corporation (PPC), the group that acquired Enel Romania, recently became vice president of Eurelectric, the association that represents the European electricity industry in Brussels. The appointment of Georgis Stassis is good news for Romania as he is a connoisseur of the local energy market, and the company he leads has development plans in the country with the takeover of Enel’s assets.
Moreover, after signing the purchase agreement, PPC announced that Romania is a strategically important market for the Greek group and that it intends to invest in the development of local operations. The objective of PPC, which will take over the assets of Enel Romania in the third quarter of this year, is to become a leader in the clean energy market in Southeast Europe.
The new management of Eurelectric comes in the context where the reform of the organization of the electricity market is being debated at the European Union level. It provides revisions to several EU pieces of legislation, with a direct impact on energy consumers – both households and businesses.
The team that includes the PPC CEO has put together an ambitious agenda that advocates a structural approach that goes beyond the urgency of the last year – cost control in the face of the price crisis. Thus, strengthening the electricity networks as the backbone of the energy transition, rethinking the security of Europe’s supply and ensuring adequate investment conditions are the three key priorities of the new Eurelectric leadership team.
Upon taking office, Georgios Stassis stressed the urgent need to prioritize infrastructure development and digitalization to avoid future risks and excessive volatility. He called on policy makers and regulators to strongly support the acceleration of electrification and actively promote the green agenda. Accelerated investment in electricity infrastructure is an important part of Europe’s journey towards energy independence and a net-zero economy, and energy market resilience means long-term secure, affordable energy as well as meeting climate goals, he added.
A strengthened and expanded electricity infrastructure would have major positive implications for protecting the internal energy market. According to Eurelectric, by 2030, 50% of Europe’s low-voltage lines will be over 40 years old, well past their mid-life, and will need to handle considerable amounts of renewables, heat pumps and electric vehicles. Between 2020-2050, investments in the distribution network will have to reach between 38-100 billion euros per year.
With over 15 years of experience in the energy field, Georgios Stassis has been CEO of PPC since 2019, during which the Greek company has had an upward trajectory, assuming a clear decarbonization path. Between 2016 and 2019 Stassis held the position of CEO of Enel Romania, previously leading the division for Eastern Europe and the Middle East of Enel Green Power.
With the completion of the Enel Romania acquisition, the PPC Group will exceed the installed capacity of 11 GW and will serve 8.9 million customers, in several markets, with approximately 41 TWh of electricity supplied, 78 TWh distributed and more than 27 TWh generated, in while the regulated asset base (Regulated Asset Base) will reach 4.15 billion euros.
Eurelectric represents over 3,500 energy companies from all over Europe.