PPC Group and METLEN, leading Greek companies in the electricity sector in Greece and the wider region, have signed a Joint-Venture Agreement (JVA) to set up a joint venture in which each party will hold a 50% stake.
The purpose of the joint venture is to develop, construct 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 deployed in the next 12 months.
The construction of these storage stations will use two-hour liquid-cooled battery systems based on innovative LFP technology, maximizing both usable energy delivered and operational reliability.
The two companies join forces contributing their specific expertise in development, construction and energy management. For the PPC Group, having a consolidated presence in all three countries, it ensures rapid project development and efficient energy management, while METLEN, capitalizing on 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 fed into the grid during periods without sun or wind - the storage units will also contribute to the stability of the power 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 generation is efficiently used.
Investments in storage ensure the optimal use of renewable electricity generation and further contribute to the stability of the energy system, both at national and regional level.
For PPC Group, this agreement secures the implementation of a significant part of its energy storage target for the next three years, while guaranteeing rapid execution. At the same time, the terms of the agreement guarantee the construction quality and efficient operation of the storage projects, which will be geographically diversified in countries where the Group already operates and will be located in close proximity to renewable energy projects to optimize their performance.
For METLEN, this collaboration is an important moment in the implementation of its strategy to strengthen its presence in energy storage projects across Europe, capitalizing on its extensive expertise in the development, construction and operation of energy infrastructure. Energy storage, as outlined 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 renewable penetration. By developing BESS projects in strategic European markets and by partnering with the PPC Group, METLEN strengthens its international role, accelerates the implementation of its investment plan and contributes decisively to 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 East 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 the 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 demonstrate 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.
