PPC Renewables, a wholly owned subsidiary of main power utility PPC, and the Sumec Group, a member of the China National Machinery Industry Corporation (Sinomach), whose membership also includes CMEC, signed a Memorandum of Understanding today at the PPC headquarters in Athens.

The MoU concerns the development of renewable energy projects in Greece and the wider region, as well as the provision of energy services, especially in energy efficiency, a domain in which Sumec possesses extensive experience, PPC announced in a statement.

Manolis Panagiotakis, PPC’s chief executive, Ilias Monaholias, the head official at PPC Renewables, and Cai Jibo (photo), the Sumec Group’s president, all took part in the signing ceremony and meeting.

Also in attendance was Liu Huifeng, a representative of Sinosure (China Export & Credit Insurance Co), an investment insurance company.

Sumec officials at the signing ceremony noted that the Chinese company intends to establish Greece as its operating base for the wider region.

Panagiotakis, the PPC boss, highlighted the significance of the collaboration between PPC Renewables and Sumec. He stressed that PPC, the parent company of PPC Renewables, will fully support the initiative, while also hinting at a possible partnership between PPC and Sumec.