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Greece’s Public Power Corp to expand in Turkey, says PPC chairman

Greece’s Public Power Corporation. (PPC) aims to expand its investments in Turkey, the company’s Chairman Manolis Panagiotakis said Wednesday in an interview with Anadolou News Agency. The country’s major power utility has an 85 percent share in the retail market, but agreed to reduce its share to below 50 percent by 2020 as part of the country’s bailout terms with the EU.

In a bid to diversify its assets, the PPC is now looking to invest more in Turkey and in the Balkan region. To this end, the PPC is working with an international consultancy to develop a strategy for the Turkish energy market, he said.

“We feel that it is the right time to have a vivid presence in Turkey,” Panagiotakis said in an exclusive interview with Turkey’s Anadolu Agency (AA).

“What we are looking for is the possibility of cooperation and expansion of investments in Turkey in the wind sector, in some small hydroelectric projects and also taking part in a geothermic investment in Cappadocia,” he explained.

The company already has a presence in Turkey through activities of its subsidiary company since 2014, PPC Elektrik, which is involved in electricity trading.

Renewables are not the company’s only pursuit. The company bid in a tender for a coal power station in Turkey’s Eskisehir alongside China’s Shenhua, Panagiotakis said.

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