Macquarie Infrastructure and Real Assets Group (MIRA) has been declared as the highest bidder in a tender to buy 49% of Hellenic Electricity Distribution Network Operator (HEDNO) offering EUR2.12 billion (US$2.5 billion), including debt of EUR804 million (US$942.3 million), making it the highest among four groups which issued binding bids.
Greece’s biggest power utility Public Power Corp (PPC) formally named Macquarie as the preferred bidder. PPC shareholders will take a final decision on the bid at a meeting scheduled for October 19, 2021.
PPC, which is 51% owned by the state, will use the sale proceeds to reduce debt and boost its footprint in renewables.
HEDNO operates a 242,000 km long grid, which brings electricity to about 7 million households and businesses across Greece. PPC expects a new investor to help to upgrade the grid, which mainly consists of overhead cables susceptible to failure in adverse weather.
PPC SA, through its green energy unit PPC Renewables, is planning to build a 500 MW solar photovoltaic project located in a coal-fired power complex in Western Macedonia, Greece. The...
Read moreMytilineos SA has started construction of the 200 MW Kozani solar photovoltaic project located in Western Macedonia on behalf of the Greek energy supplier PPC SA. The project is part of th...
Read moreSiemens Gamesa has signed a contract with Vendavel to supply wind turbines for the 40 MW Vissima wind project located in Macedonia, northern Greece. Siemens Gamesa will supply eight units of SG...
Read moreNational Energy (NE) has announced the completion and full energization of its greenfield construction solar energy installation in Greece. The 24.08MWp ground-mounted solar energy installation is co...
Read moreGEK TERNA reached an agreement with ENGIE and Qatar Petroleum for the acquisition of 100% of the shares of HERON Group. HERON SA was founded by GEK TERNA 20 years ago and was the first private compan...
Read more