PPC: Where did it allocate the 1.35 billion euros of the share capital increase – 2024-08-14 03:02:55

In 2021, the increase in the share capital (AMK) of PPC with the reduction of the public interest rate (Super Fund) to 34.123% and the entry of institutional and other investors offered the Greek group a line of fire of 1.35 billion euros.

Beyond the obvious, the vote of confidence received from the market, the management of the group under the president and CEO Giorgos Stassis utilized these funds in order to invest in energy and other sectors, creating capital gains for shareholders and significant benefits for the Greek public.

PPC allocated 958.8 million euros for acquisitions of RES companies

PPC

The PPC group, essentially with the 1.35 billion euros, grew, expanded its activities outside the borders, while at the same time verticalizing and further expanding its scope.

From 2021 to 2024, PPC allocated the 1.35 billion euros invested by investors to 958.8 million euros for investments in RES with the goal of an installed capacity of 7.2 GW by 2024 and 325.1 million. euros for its development in conventional energy, supply, digitization, telecommunications, chargers for electric mobility, etc.

Of the 1.32 billion, 65.9 million euros were the costs of issuing the 150 million shares during the November 2021 IPO.

Acquisitions and joint ventures in RES

According to the information that PPC is obliged to do, the 958.8 million euros were allocated for acquisitions of companies in the RES as well as those of Enel in Romania.

The share capital increase in PPC AN

PPC carried out within 2022 and 2023 increases in the share capital of its 100% subsidiary “PPC Renewable Sole Proprietorship SA” (PPC) for a total amount of 300 million euros.

PPC allocated funds totaling 1.8 million euros, which corresponded to the costs of the above share capital increases. PPC manages the portfolio of Renewable Energy Sources of the PPC group (excluding large hydroelectric power plants).

The acquisitions of Volterra’s RES companies amounted to 59.67 million euros

The RES of Volterra

Within 2022, the group, through DEHAN, acquired 55% of the shares of “Volterra KR S.A.” and “Volterra LYKOVOUNI SA”, in which he was already a shareholder, by 45% in each company, from 2019.

“Volterra KR S.A.” and “Volterra LYKOVOUNI S.A.” own wind farms with a total capacity of 69.7 MW in operation in Aetoloakarnania and Boeotia.

Also, the group acquired 100% of “HILIOPHANEIA MONOPROSPI ANONIME TECHNIK COMMERCIAL AND INDUSTRIAL RENEWABLE ENERGY SOURCES COMPANY”, which owns a 2.7 MW photovoltaic park in operation in Viotia, as well as the companies “Volterra DOUKAS S.A. » and “Volterra KOUKOULI S.A.”, which hold permits to install wind farms with a total capacity of 39.5 MW. The PPC group allocated funds totaling 59.67 million euros for the acquisition of the above five companies.

Η KPM Energy

Within 2023, the Group, through direct subsidiaries of DEAN, acquired 100% of the shares of “AEOLIKI BELEKHERI MONOPROSOPI ANONIME VIOMICHANIKI KE ENERGY ETERIA” which owns two wind farms, with a total capacity of 43.8 MW in the locations “LEFKESI” and “BELEKHERI” of the Municipality of Evrotas Lakonia, Region of Peloponnese and 100% of “KPM ENERGY ELECTRICITY PRODUCTION COMPANY MONOPROSSOPI S.A.”, which has a license to operate a 1.99 MW Photovoltaic power plant in the “Vlachopigado” location of the Municipality of Estaiotida, P.E. Trikala, having funds of a total amount of 58.06 million euros.

Enel in Romania

Also, within 2023, PPC acquired 19 subsidiary companies in Romania with the object of developing RES projects, disposing of funds totaling 611.53 million euros.

Again in Romania, the PPC group, through a direct subsidiary of PEPAN, acquired 100% of “Land Power srl”, which owns a wind farm in operation in Romania with a total capacity of 84 MW, with funds totaling 103.31 million. euro.

PPC allocated 67.55 million euros for its entry into 49% of Intrakat companies in RES

The collaboration with Intrakat

Within 2024, the PPC group, through DEHAN, acquired 100% of the shares of the company “INKAT ENERGY MONOPROSSOPI S.A.” which owns 100% of the companies “CLAMWIND POWER MONOPROSSOPI A.E.”, “GREEK WINDPOWER MONOPROSSOPI A.E. OF ELECTRIC ENERGY PRODUCTION”, “ALTERNATIVE ENERGY ALPENER MONOPROSPI S.E.” and “KASTR EVIAS MONOPROSOPI A.E. PRODUCTION AND TRADE OF ELECTRIC ENERGY” and 100% of the shares of the companies “ARKADIA WIND PARK RENINVEST MONOPROSOPI S.A.” and “RENEX AEOLIKI ARTAS MONOPROSOPI S.A.” with a total power of approximately 164 MW. At the same time, it entered as a 49% shareholder in holding companies of the Intrakat group, which own a portfolio of renewable energy projects under development, with a total capacity of approximately 1.6 GW. For the above investments, it allocated a total of 67.55 million euros.

The offshore wind farm in Thrace

Finally, the group, through DEHAN, acquired 100% of the shares of the company “THRAKI AEOLIKI 1 S.A.” which has the production license for the offshore wind farm with a total capacity of 216 MW off Alexandroupoli, with funds totaling 16.25 million euros.

RES projects

Finally, during the period January 2022 – June 2024, PPC allocated funds totaling 40.71 million. euros for investments in RES projects.

Funds from AMK for conventional energy and telecommunications amounted to 325.1 million euros

Conventional energy and telecommunications

As mentioned above, the PPC group allocated 325.1 million euros for investments in conventional energy, digitization and telecommunications.

Ptolemais V, natural gas plants and digitization

PPC invested in investments related to:

1. The lignite electricity production (E/E) (mainly the new Ptolemaida V Unit) total funds amounting to 178.76 million euros

2. The contractual production of U/E in the Non-Interconnected Islands totaling funds amounting to 32.93 million euros,

3. Improvements to existing electricity generation units with natural gas totaling 35.41 million euros,

4. Commercial activity, other improvements in building infrastructure and electrification, total funds amounting to 20.88 million euros,

5. Digitization totaling funds amounting to 7.95 million euros, and

6. Telecommunications total capital of 24.99 million euros

Power generation of Alexandroupoli

Also, within 2022, the Company proceeded with the acquisition of 51% of the shares of “Electroprodujari Alexandroupoli Monoprosopi S.A.” and 33.34% of “NVISIONIST SA” having total funds of 3.74 million euros.

“Electroprodukiri Alexandroupoli Monoprosopi S.A.” is building a new natural gas-fired power plant, with a nominal capacity of 840 MW, in Alexandroupoli, while “NVISIONIST S.A.” specializes in software systems serving RES companies.

Hellenic Hydrogen

Within 2023, PPC allocated funds totaling 6.47 million euros for the establishment of the related company “Hellenic Hydrogen S.A.” and acquired 49% of it.

“Hellenic Hydrogen SA” will aim to develop green hydrogen production and storage projects, thus facilitating Greece’s energy transition to an environment with net zero carbon emissions (Net Zero).

Trading in Romania

Finally, within 2023, PPC allocated funds totaling 14.05 million euros for the acquisition of three new subsidiaries in Romania with the purpose of electricity trading and electric mobility.

SOURCE: ot.gr