PPC Group and METLEN, leading Greek companies in the electricity sector in Greece and the wider region, have signed a Joint Venture Agreement (JVA) for the establishment of a joint venture in which each party will hold a 50% stake.
The purpose of the joint venture is to develop, build and operate a portfolio of BESS (Battery Energy Storage Systems) projects with a capacity of up to 1,500 MW / 3,000 MWh in Romania, Bulgaria and Italy, of which 1,000 MW are expected to be implemented in the next 12 months.
For the construction of these storage stations, liquid-cooled battery systems with a two-hour duration, based on innovative LFP technology, will be used, maximizing both the usable energy delivered and operational safety.
The two companies join forces by contributing their specific expertise in development, construction and energy management. For the PPC Group, with a consolidated presence in all three countries, it ensures rapid project development and efficient energy management, while METLEN, leveraging its long-standing experience and proven know-how, ensures the construction of projects on time and to high quality standards.
In addition to supporting the operation of adjacent photovoltaic and wind farms – by storing excess energy to be injected into the grid during periods without sun or wind – the storage units will also contribute to the stability of the energy system. By operating these and future energy storage systems, the management of renewable energy production is optimized, the energy contribution is maximized, and the full potential of renewable electricity production is efficiently utilized.
Investments in storage ensure the optimal use of renewable electricity production and further contribute to increasing the stability of the energy system, both at national and regional level.
For the PPC Group, this agreement ensures the implementation of a significant part of its energy storage objective for the next three years, while guaranteeing a rapid execution. At the same time, the terms of the agreement guarantee the quality of construction and efficient operation of the storage projects, which will be geographically diversified in the countries where the Group already operates and will be located in proximity to renewable energy projects to optimize their performance. For METLEN, this collaboration represents an important moment in the implementation of its strategy to consolidate its presence in energy storage projects at European level, leveraging its extensive expertise in the development, construction and operation of energy infrastructure. Energy storage, as highlighted in the Medium Term Business Plan, is a central pillar for maximizing the value of renewable energy portfolios and facilitating the transition to a clean energy system with high penetration of renewable sources. By developing BESS projects in strategic European markets and through the partnership with the PPC Group, METLEN is strengthening its international role, accelerating the implementation of its investment plan and contributing decisively to the creation of a more resilient and sustainable energy system.
“This agreement creates value for both parties and further expands our Group’s already significant presence in South-Eastern Europe. At the same time, the energy storage projects already under implementation will ensure the optimal use of electricity produced from renewable sources and, in addition, the stability of the energy system in our country and across the European continent. PPC is also a pioneer in this field, as the Group’s investment plan includes significant investments in energy storage systems,” said Konstantinos Mavros, Renewables Deputy CEO, PPC Group. “The agreement with PPC Group marks another significant step in METLEN’s strategy to develop and implement projects that support the energy transition and sustainable development in Europe. By combining METLEN’s international experience and expertise in the development, construction and operation of energy projects with PPC’s strong presence in regional markets, we are demonstrating in practice that energy storage is a catalyst for maximizing the value of renewable energy sources and ensuring the reliability of energy systems,” said Nikos Papapetrou, Renewables Chief Executive Director, Storage & Energy Transition Platform, METLEN.