PPC eyes purchase of Enel’s activities, assets in Romania

ΑΤΗΕΧ-listed Public Power Corp. (PPC), Greece’s dominant power producer and provider, is heading into exclusive negotiations with Italian multinational Enel to acquire the latter’s operations in Romania.

According to a relevant press release, PPC signed an exclusivity agreement with Enel S.p.A. for the prospective purchase of the Enel group’s target assets in Romania.

The specific negotiations have a horizon of late January 2023, whereby the Greek utility will exercise necessary due diligence for the targeted assets.

PPC’s board of directors will then decide whether to proceed with a binding offer towards Enel.

The multinational’s leadership has recently made it clear that Enel is ready to sell subsidiaries in markets, outside Italy, where it has a presence.

According to analysts, the Romanian market offers increased margins for a further penetration of renewable sources of energy (RES).

PPC for decades served as the fully state-owned and operated vertical and horizontal power monopoly in Greece, before an EU-mandated breakup of its operations and the liberalization of the electricity sector.