The Public Power Corporation is joining forces with Cyprus-based Quantum Energy in a hydroelectric joint venture in Republic of Serbia that will propel Greece’s primary electricity producer into a new role as a regional energy provider and trade reports Financial Mirror.
The venture, PPC Quantum Energy S.A., was ratified by partners DEH (51%) and Quantum (40%) last week and will see the construction of four brand new hydroelectric power stations with a total output capacity of 238 MW. The greenfield project will cost some 500 mln euros and will need about three years to complete once the contractors have been chosen, a process that may last throughout 2012. This is the first time that DEH will venture beyond Greek borders to invest in power generation that could provide it with much-needed earnings or electricity, or both, as Greece is a net importer of the commodity. On the other hand, Serbia, Bosnia-Herzegovina and Srpska Republic have a surplus of power generation, earning these states steady revenues from the transmission and trade of electricity contracts.
Source balkans.com
