PPC, RWE agreement near, aiming for RES joint venture by summer

PPC Renewables, a power utility PPC subsidiary, and RWE, Germany’s biggest power producer, are striving to launch a joint venture by next summer for RES investments in Greece.

The two companies, which signed a Memorandum of Understanding last March in Berlin for exchange of technical knowhow and RES development in Greece, are looking to equally contribute for the establishment of a joint RES portfolio totaling 2 GW.

State-controlled PPC is expected to offer its approval of the agreement between the two companies within the next few days, development and investment minister Adonis Georgiadis told an online New Year event staged yesterday by the Hellenic-German Chamber of Commerce and Industry.

However, the details of the PPC Renewables-RWE joint venture deal are not expected to be finalized until early February, according to sources.

The two sides have already agreed on the fundamentals of their partnership agreement, RWE’s local representative Giorgos Paterakis confirmed at the aforementioned event, adding that the two companies will soon have further, and more specific, details to announce.

Georgiadis, the development and investment minister, described the forthcoming partnership as one of the country’s two biggest green-energy developments, also naming a pilot electromobility investment planned by another German company, VW, on the Greek island Astypalea.

The two companies are also looking to collaborate on decarbonization.

VW to develop Astypalea €30m green-energy transformation

German auto industry Volkswagen has agreed to develop a 30 million-euro investment plan on the Greek island Astypalea, in the southeast Aegean, that will transform the location into a green-energy island capable of fully covering its energy needs.

Prime Minister Kyriakos Mitsotakis and the VW chief executive Herbert Diess are scheduled to stage a teleconference tomorrow, possibly with the participation of the Astypalea municipality’s leadership, during which they are expected to officially announce the investment plan.

Astypalea promises to become the country’s second self-sufficient green-energy island following Agios Efstratios, a small island close to Limnos in the northeast Aegean. A tender was recently completed for necessary RES and telethermal projects on Agios Efstratios.

Besides the installation of RES systems and energy storage facilities, the VW plan for Astypalea will also incorporate testing of autonomous, or self-driving, vehicles.

VW is investing heavily in self-driving vehicles, particularly buses and trucks, as part of its effort to compete against rival car manufacturers in the electromobility sector and also achieve ambitious green-energy company goals set to help counter climate change.

Greece’s deputy foreign minister Kostas Fragogiannis, who has maintained close contact with VW over the past year in an effort to convince the German car maker to pursue its investment plan on a Greek island, will coordinate all necessary interministerial actions.

VW officials had visited the island Thassos, in the north Aegean, early this year before opting to pursue their plan on Astypalea.

The German company plans to replace the island’s existing fleet of municipal vehicles, including public transport buses and trucks, with equivalent electric models and also install recharging facilities.

VW considers Astypalaia island as electromobility testing site

German automaker Volkswagen, preparing to conduct real-condition tests on a range of new electric vehicles, including self-driving models, is considering the Greek island Astypalaia as a testing site.

Astypalaia is one of the Greek islands the government is looking to convert into a green island with self-sufficient RES generation.

VW is now considering to proceed with investments needed on Astypalaia for its planned electromobility and self-driving car tests. The island was proposed by the Greek government as an appropriate testing site.

A team of VW officials were in Athens in February for a related meeting with Greece’s Deputy Foreign Minister Kostas Fragogiannis, responsible for economic diplomacy and extroversion.

This Dodecanese island is among the Greek islands capable of hosting RES and energy storage systems as well as electric vehicle recharging infrastructure required by VW for its testing, Greek authorities support.