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Partner sought for largest biomass CHP plant in Greece

PPC Renewables is looking for a strategic partner to participate in the construction of the largest biomass CHP plant in Greece, according to a statement on the company’s website.

A wholly owned subsidiary of Public Power Corporation – the largest electricity and production and supply company in Greece, PPC Renewables is involved in a variety of renewable energy projects.

The announcement says PPCR is now looking for a partner in its Biomass CHP Company to develop, finance, construct and operate a biomass CHP plant of nominal capacity of 25MWe of electricity and 45MWth of heat, to be installed in Amyntaio in the northern part of Greece.

An area of approximately 58,000m2 has been reserved for the project close to PPC’s existing thermal power plant. It will use the existing facilities at the site in order to be connected to the electrical and district heating grids.

PPCR has already obtained a production license from the Greek Regulatory Authority of Energy.

 

Requirements for the partner

PPCR says the partner is anticipated:

“(a) to acquire a majority stake in the share capital of the Biomass CHP Plant Company against either a lump sum cash consideration (payable to PPCR) or via a capital increase to be subscribed by the Strategic Partner, to be defined in the Request for Proposal (the “RfP”); and

(b) through its participation in the Biomass CHP Plant Company, to:

-  finance the Biomass CHP Project by a combination of debt and/ or equity; and

- design, contract, oversee construction and installation, operate and maintain the Biomass CHP Plant through agreements that the Biomass CHP Plant Company may enter into and that shall be defined further in the RfP (the “Transaction”);

- secure, procure and manage the biomass fuel necessary for the operation of the Biomass CHP Plant, in order to proceed to the production and sale of electricity and thermal load to the electrical Grid and district heating network

It is also anticipated that PPCR will enter into an agreement with the Biomass CHP Plant Company for the procurement of part of the aforementioned necessary biomass fuel.”

 

More information on the project, and PPCR’s requirements, is available here.





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