PPC partners with Metlen to develop 1,500MW BESS in Europe

Greek companies PPC Group and Metlen have signed a Joint Venture Agreement (JVA) for the establishment of a joint venture company, in which each party will hold a 50% stake. 

The purpose of the joint venture is the development, construction and operation of a portfolio of BESS projects of up to 1,500 MW / 3,000 MWh in Romania, Bulgaria and Italy, of which 1,000 MW are expected to be implemented within the next 12 months, according to a press release.

For the construction of these storage stations, two-hour liquid-cooled battery systems using LFP technology will be deployed, maximizing both usable energy output and operational safety.

The two parties are joining forces by contributing their respective expertise in development, construction and energy management.  

Beyond supporting the operation of adjacent photovoltaic and wind parks by storing surplus energy for injection into the grid during periods without sun or wind, the storage stations will also contribute to the stability of the electricity system, the press release said.

“This agreement creates value for both parties and further expands our Group’s already significant presence in Southeast Europe,” said Konstantinos Mavros, Deputy CEO, Renewables of PPC Group. “At the same time, the energy storage projects already under implementation will ensure the optimal use of electricity generation from Renewable Energy Sources and, additionally, the stability of the electricity system in our country and across the entire European continent.” 

“The agreement with PPC Group marks yet another substantive step in Metlen’s strategy to develop and implement projects that support the energy transition and sustainable development in Europe,” said Nikos Papapetrou, Chief Executive Director, Renewables, Storage & Energy Transition Platform of Metlen. “By combining Metlen’s international experience and expertise in the development, construction and operation of energy projects with PPC’s strong presence and footprint in regional markets, we demonstrate in practice that energy storage is a catalyst for maximizing the value of renewable energy sources and ensuring the reliability of power systems.”