The Public Power Corporation (PPC/DEH) is joining forces with Cyprus-based Quantum Energy in a hydroelectric joint venture in Republic of Serbia that will propel Greece’s primary electricity producer into a new regional energy provider and trade reports Financial Mirror.
The venture, PPC Quantum Energy S.A., was ratified by partners DEH (51%) and Quantum (40%) last week and will see the construction of four brand new hydroelectric power stations with a total output capacity of 238 MW. The greenfield project will cost some 500 million euros and will need about three years to complete once the contractors have been chosen, a process that may last throughout 2012.
This is the first time that DEH will venture beyond Greek borders to invest in power generation that could provide it with much-needed earnings or electricity, or both, as Greece is a net importer of the commodity.
On the other hand, Serbia, Bosnia-Herzegovina and Srpska Republic have a surplus of power generation, earning these states steady revenues from the transmission and trade of electricity contracts.
(source:Balkans.com, Business news)
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
