PPC he got all the generation projects of energy from renewable sources owned by the Macquarie investment fund in Romania for an estimated price of 700 million euros, and in front of the analysts who participated in the Conference Call on the subject of the company’s financial results, the executive director of PPC explained the reasons why this move was made.
The landmark deal announced yesterday by PPC includes the conclusion of a binding purchase and sale agreement with Evryo Group, a Macquarie-controlled fund for the acquisition of a portfolio of renewable energy projects. that this fund has in Romania, including projects that are working. with a total installed capacity of up to 629 MW, projects under development around 145 MW. The value of the transaction as an enterprise value (enterprise value) amounts to approximately 700 million.
According to Stassis, the contract has a good valuation because the projects purchased are very good and in a good location with excellent wind potential and are around 8 to 10 years old, which in terms of wind farms meaning they are new.
The balance goes towards green energy
In addition, he said, by building the projects, PPC is adding 1.4 terawatt-hours to renewable energy production, thus shifting its energy mix clearly towards renewable energy. green. The installed capacity of the projects purchased by PPC is equal to approximately 13% of the total capacity installed from renewable sources in Romania.
Stassis also told the analysts that PPC Romania’s energy production is lower than the sales it makes in this country, therefore, this agreement will cover part of this gap. He also said that the agreement does not change the company’s plans, and does not mean that it would stop the organic development of renewable well projects in Romania. In Romania, PPC now owns projects that, in terms of installed capacity, are 86% wind and 14% photovoltaic.
It is recalled that PPC recently announced the start of construction in Romania of a large wind farm with a capacity of 140 MW. This investment comes after PPC acquired Enel Romania, which strengthened the company’s EBITDA by 100 million euros.
Powerful results
PPC announced on Tuesday (6/8) the financial results for the first six months, which show a growing profit.
As it was said yesterday in front of the analysts, considering the results of the first half of the year, the management of the company is optimistic about the achievement of the development goals and the financial goals established in January . In this context, he already intends to update the strategy presented to analysts at the beginning of the year towards the end of the year, especially in November or December 2024.
2024-08-08 14:04:50
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