The Greek state-owned power utility Public Power Corporation (PPC) has entered into a binding agreement with the Romanian power producer and distributor Evryo Group to acquire renewable energy facilities in Romania with a total capacity of 774 MW in a €700m deal. The portfolio includes 600 MW of onshore wind, 22 MW of hydropower, 6 MW of battery energy storage, and 1 MW of solar PV capacity, and about 145 MW in projects under development. The acquisition will more than double PPC’s renewable portfolio in Romania, passing from 582 MW to more than 1.2 GW, and is expected to help reduce its reliance on wholesale energy purchases. The contract is still subject to regulatory approvals.
Evryo Group, formerly CEZ Romania, is managed by Australian fund Macquarie. The company expects to focus on its regulated distribution business once the deal is completed by the fourth quarter of 2024.
