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    PPC   GRS434003000

PUBLIC POWER CORPORATION S.A.

(PPC)
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RWE enters Greece via solar JV with Public Power Corp

10/07/2021 | 03:44am EST

* JV to initially develop up to 2 GW of solar projects

* RWE holds 51%, PPC 49%

* Advanced projects to start operations in 2023

FRANKFURT, Oct 7 (Reuters) - RWE, Germany's biggest power producer, on Thursday said it has formed a joint venture with Public Power Corporation (PPC), which will initially focus on realising solar projects worth up to 2 gigawatts in Greece.

The 51-49 joint venture is RWE's first move into the Greek market, the company said, adding both firms had agreed to not disclose financial details of the deal.

"Greece is a promising growth market for us, with its high solar energy levels and clear commitment to renewables," said Katja Wuenschel, chief operating officer for onshore and PV Europe and Asia-Pacific of RWE Renewables.

"Growing new renewable energies is the clear focus for RWE."

PPC will contribute nine solar projects worth a combined 940 megawatts and located in northern Greece's west Macedonia region. RWE Renewables has secured a project pipeline of similar size for the venture.

RWE said the projects are at various stages of development, with the more advanced expected to start operations in 2023 and the less developed possibly following two years later. (Reporting by Christoph Steitz; Editing by Riham Alkousaa and Maria Sheahan)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
POWER CORPORATION OF CANADA 0.10% 41.7 Delayed Quote.42.52%
PUBLIC POWER CORPORATION S.A. 0.16% 9.615 Delayed Quote.29.41%
RWE AG 1.41% 34.64 Delayed Quote.0.20%
All news about PUBLIC POWER CORPORATION S.A.
11/30PUBLIC POWER S A : 9M2021 Financial Results presentation
PU
11/30Public Power Corporation S.A. Reports Earnings Results for the Nine Months Ended Septem..
CI
11/30PUBLIC POWER S A : PPC Group 9M/Q3 2021 financial results
PU
11/25PUBLIC POWER S A : Clarifications on the items of the EGM
PU
11/24PUBLIC POWER S A : Invitation to an extraordinary general meeting of the shareholders of p..
PU
11/24PUBLIC POWER S A : Release date of 9M2021 financial results
PU
11/22PUBLIC POWER S A : Announcement - Regulated Information according to L. 3556/2007
PU
11/20PUBLIC POWER S A : Announcement - Regulated Information according to L. 3556/2007
PU
11/12PUBLIC POWER S A : Announcement regarding the admission to trading of the new shares issue..
PU
11/10Outcome of the offering of New Shares for the Share Capital Increase of PPC S.A.
PU
More news
Analyst Recommendations on PUBLIC POWER CORPORATION S.A.
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Financials
Sales 2021 5 118 M 5 790 M 5 790 M
Net income 2021 80,5 M 91,1 M 91,1 M
Net Debt 2021 2 082 M 2 356 M 2 356 M
P/E ratio 2021 192x
Yield 2021 -
Capitalization 3 673 M 4 146 M 4 155 M
EV / Sales 2021 1,12x
EV / Sales 2022 1,01x
Nbr of Employees 13 103
Free-Float 48,9%
Chart PUBLIC POWER CORPORATION S.A.
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Public Power Corporation S.A. Technical Analysis Chart | PPC | GRS434003000 | MarketScreener
Technical analysis trends PUBLIC POWER CORPORATION S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 9,62 €
Average target price 13,86 €
Spread / Average Target 44,1%
EPS Revisions
Managers and Directors
Georgios Stassis Chairman & Chief Executive Officer
Alexandridis Konstantinos Chief Financial Officer
George Venieris Independent Non-Executive Director
Despina Doxaki Independent Non-Executive Director
Stephanos Theodoridis Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
PUBLIC POWER CORPORATION S.A.29.41%4 146
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DUKE ENERGY CORPORATION5.53%76 842
ENEL S.P.A.-21.15%74 857
IBERDROLA, S.A.-17.15%67 574
SOUTHERN COMPANY-0.47%66 587