PPC Renewables, a subsidiary of power utility PPC, appears to have finalized details for a partial acquisition of energy firm Volterra’s renewable energy portfolio, namely 112 MW in wind and solar energy projects, both already operating and under construction. An official announcement on the agreement is expected to be announced today.
The anticipated acquisition by PPC Renewables, which does not include any of Volterra’s retail electricity market interests, currently pressured, promises to bolster the market presence of the buyer.
PPC Renewables is pursuing a plan aiming for 7.2 GW in installed RES capacity by 2024 and 9.1 GW by 2026, an investment initiative worth 8.4 billion euros.
In addition to its agreement with Volterra, a member of the AVAX construction group, one of Greece’s largest, PPC is also examining other RES sector opportunities in Greece and other Balkans markets, the focus on Bulgaria and Romania.
Volterra, holding a retail electricity market share of nearly 2.1 percent, has faced relentless cash-flow pressure, a key factor behind the parent company’s decision for electricity market disinvestment.