PPC Renewables, a power utility PPC subsidiary, and RWE, Germany’s biggest power producer, have set an objective to develop a Memorandum of Understanding signed by the two sides last March into a realistic business agreement by the end of this year.

A team of RWE officials, completing a three-day working visit to Greece today, visited northern Greece’s west Macedonia region, a lignite-dependent area, for on-site inspections of areas offering investment interest to the German company.

Besides new projects, RWE is also keen to take on projects already being developed by other companies.

Details seen fostering the development of the MoU into a business plan, including project financing prospects and the establishment of working groups, were addressed by the two sides.

The visiting German team also held a meeting, yesterday, with the leadership of the development and investment ministry and the energy ministry’s secretary-general Alexandra Sdoukou.

The length of time required in Greece for RES licenses was discussed, as were financial incentives promised through the fair transition fund, an EU plan to support green economy transitions.