PPC Group and METLEN, leading Greek companies in the electricity sector in Greece and the wider region, have signed a Joint Venture Agreement (JVA) for the establishment of a joint venture company, in which each party will hold a 50% stake. The purpose of the joint venture is the development, construction and operation of a portfolio of BESS (Battery Energy Storage System) projects of up to 1,500 MW / 3,000 MWh in Romania, Bulgaria and Italy, of which 1,000 MW are expected to be implemented within the next 12 months.
For the construction of these storage stations, two-hour liquid-cooled battery systems using innovative LFP technology will be deployed, maximizing both usable energy output and operational safety.
The two parties are joining forces by contributing their respective expertise in development, construction and energy management. PPC Group, with its established presence in all three countries, ensures rapid project development and efficient energy management, while METLEN, leveraging its long-standing experience and reliable know-how, ensures the timely and high-quality construction of the projects.
Beyond supporting the operation of adjacent photovoltaic and wind parks by storing surplus energy for injection into the grid during periods without sun or wind, the storage stations will also contribute to the stability of the electricity system. Through the operation of these and future energy storage facilities, the management of renewable energy production is optimized, their contribution is maximized, and the full potential of renewable electricity generation is effectively utilized.
Investments in storage ensure the optimal use of electricity generation from Renewable Energy Sources and further enhance the stability of the power system both domestically and across the wider region.
For PPC Group, this agreement secures the implementation of a significant portion of its energy storage target over the next three years, while also ensuring rapid execution. At the same time, the terms of the agreement safeguard construction quality and the smooth operation of the storage projects, which will be geographically diversified across countries where the Group already operates and will be located near RES projects to optimize their performance.
For METLEN, this collaboration represents a key milestone in the implementation of its strategy for a strong presence in energy storage projects at a European level, leveraging its extensive expertise in the development, construction and operation of energy infrastructure. Energy storage, as also outlined in its Medium-Term Business Plan, constitutes a core pillar for maximizing the value of RES portfolios and enabling the transition to a high-penetration clean energy system. Through the development of BESS projects in strategic European markets and its partnership with PPC Group, METLEN strengthens its international role, accelerates the execution of its investment plan and makes a decisive contribution to shaping a more resilient and sustainable energy system.
The Deputy CEO, Renewables of PPC Group, Mr. Konstantinos Mavros, stated: “This agreement creates value for both parties and further expands our Group’s already significant presence in Southeast Europe. At the same time, the energy storage projects already under implementation will ensure the optimal use of electricity generation from Renewable Energy Sources and, additionally, the stability of the electricity system in our country and across the entire European continent. PPC is also a pioneer in this field, as the Group’s investment plan includes significant investments in energy storage systems.
The Chief Executive Director, Renewables, Storage & Energy Transition Platform of METLEN, Mr. Nikos Papapetrou, stated: “The agreement with PPC Group marks yet another substantive step in METLEN’s strategy to develop and implement projects that support the energy transition and sustainable development in Europe. By combining METLEN’s international experience and expertise in the development, construction and operation of energy projects with PPC’s strong presence and footprint in regional markets, we demonstrate in practice that energy storage is a catalyst for maximizing the value of Renewable Energy Sources and ensuring the reliability of power systems.”
