The acquisition further strengthens PPC Group's growth strategy in Romania and Southeast Europe, with the addition of a significant renewables operating portfolio, including 600MW onshore wind, 22MW hydro, 6MW BESS, 1MW solar PV installed capacity, and about 145MW pipeline assets. Upon completion of the agreement, PPC's RES portfolio in operation in Romania will double and total RES of PPC Group in operation will reach 5.3GW.

PPC Group has extensive experience in operating RES projects with a substantial solar pipeline in Greece. This transaction will broaden and diversify the business's renewable energy operations with the addition of large scale wind projects and hydro power plants in the Romanian region.

The funding of the transaction is structured to be compatible with PPC Group's financial policy, to remain well within Group's target leverage ceiling. Upon completion, PPC Group will add an estimated EBITDA of €100 m. on an annual basis.

The closing of the Acquisition is expected to occur by the fourth quarter of 2024, and will be subject to certain conditions precedent customary for this kind of transaction, including, among others, clearance from the relevant antitrust authorities.

PPC is the leading South-East European electric utility, with activities in electricity generation, distribution and sale of advanced energy products and services in Greece, Romania and North Macedonia. PPC has a total installed capacity of 11.,5GW, consisting of thermal, hydro and RES installations with a total annual generation amounting to approximately 20TWh, while the total Regulated Asset Base of its networks amounts to € 4.3 bn approximately. PPC Group is the leading supplier of electricity in Greece and Romania, servicing 8.8m. customers in total, providing them with approximately 33TWh of energy and a wide range of energy products and services. PPC is publicly listed, and its shares are traded on the Main Market of the Athens Exchange.