George Stassis may have seen PPC’s shares close to the highest levels of the last 10 years (12.5 euros) and at the same time proposed as a “gift” the cancellation of 12.7 million own shares (corresponding to 3.33% of share capital), but a new agreement in the wind energy sector is the most important development. This is the Company’s 6th consecutive acquisition, announced or completed since the beginning of 2024.
The new agreement concerns the acquisition of 66 MW in operation and 1.7 GW under development of “green” projects in Greece by the Copelouzos and Samaras Groups. At the same time, the deal also includes the acquisition of 20% of the Alexandroupolis CCGT station by DAMCO (Copelouzos), with PPC controlling 71%.
Stassis, who has been CEO of PPC since 2019, announced in August the acquisition of a 774 MW RES portfolio in Romania from Macquarie for 700 million euros.
In April, PPC joined forces with Metlen, with the aim of developing 90 photovoltaic projects, with a capacity of 2,000 MW, in four different countries in Southeast Europe. A big deal worth around 2 billion euros.
Kotsovolos, Romania and Intrakat
In the same month, i.e. April, George Stassis completed the acquisition of Kotsovolos by Currys, which allowed PPC to enter the retail sector, but also use the store chain’s vast network of logistics and transport infrastructures.
In March, it transferred 100% of Land Power from Lukoil, which involved a wind farm in Romania, with a capacity of 84 MW.
Furthermore, a mega agreement was announced with the Intrakat Group to jointly develop a “green” portfolio, up to 2.7 GW of power, in an investment that could exceed one billion euros.
Value 4.6 billion euros
All the initiatives mentioned above bear the stamp of George Stassis and confirm his intention to create an integrated and “green” electricity supplier.
A vision that is starting to be reflected on the Athens Stock Exchange, where the PPP is worth more than 4.6 billion euros, not far from the multi-year maximum of 12.5 euros/share.