Power utility PPC has just signed a new agreement with Croatian group KONČAR Elektroindustrija d.d. for development of the first stage of a major-scale hydroelectric power plant at Mesohora, near Trikala in central Greece.
The first phase of the project includes testing and analysis of the power plant’s equipment, as well as preparatory activities for its commissioning.
The KONČAR group, listed on the Zagreb bourse since 2003, is one of Croatia’s biggest business groups and a leading player in the field of production and installation of electrical power equipment. It operates in more than 100 countries.
This is the second agreement to be signed between PPC and KONČAR, following a deal in 1996, at the end of an international tender, for procurement of the required electromechanical equipment to the Mesohora project.
Gordan Kolak, CEO at KONČAR, recalled the agreement with PPC in 1996 was a significant moment for the Croatian company as it came at a time when the firm was seeking to regain entry into international markets following the war in the former Yugoslavia and its ensuing independence for Croatia.
KONČAR’s obligations for the 1996 deal with PPC were completed in 2002. However, legal battles have not enabled PPC to further develop its Mesohora hydroelectric power plant project. During the time that has elapsed, PPC reached an agreement with KONČAR for maintenance of the electromechanical equipment supplied by the Croatian firm.