In implementation of the Development Agreement signed on May 12, 2017 between SHENHUA GROUP CORPORATION LIMITED and COPELOUZOS GROUP, which foresees the collaboration in the field of green energy and in the environmental upgrading of power plants in Greece and neighboring countries, today were signed the first specific agreements. More specifically:
- SHENHUA, through its subsidiary for Renewable Energy Sources Shenhua Renewable Co. Ltd, acquired 75% of the shares of four Wind Parks developed by COPELOUZOS GROUP, which are in operation or under construction. This is the first investment of a Chinese company in Wind Parks in Greece. The collaboration of the two Groups will gradually extend to other Wind Parks developed by COPELOUZOS GROUP.
- In addition, a three-party agreement (MoU) was signed between SHENHUA, PPC and COPELOUZOS GROUP, for the entrance of SHENHUA as a partner in the joint company of PPC and COPELOUZOS GROUP, PPC SOLAR SOLUTIONS.
The State Chinese Company SHENHUA GROUP CORPORATION LIMITED is the largest coal producer in the world and one of the largest power producers not only from conventional but also from renewable energy sources in China. SHENHUA is a pioneer in the technologies of green mining and ultra-low emissions from coal power generation, whereas many its units achieve emissions lower than those of natural gas fired units. COPELOUZOS GROUP is one of the largest investment groups in Greece, with a diversified range of activities, such as energy and infrastructures.
The Development Agreement between SHENHUA GROUP CORPORATION LIMITED and COPELOUZOS GROUP foresees the collaboration in a number of investments in the fields of green energy and environmental upgrading of power plants, with total estimated value of 3 billion euro. The beginning of the implementation of these investments will contribute significantly to the economic development and the enhancement of the energy sector in Greece, while it will also lead to a number of synergies with the neighboring countries.
Signing of the trilateral agreement between PPC, Copelouzos Group, and Shenhua Group, for the latter’s participation in the joint venture of PPC and Copelouzos Group, PPC Solar Solutions.
The agreement was signed in the presence of the Greek Deputy Minister of Economy and Development, Mr. Stergios Pitsiorlas and the Vice President of National Development and Reform Commission of the People’s Republic of China.
On behalf of PPC the agreement was signed by the Vice Chairman Mr. Georgios Andriotis, on behalf of Copelouzos Group by the Chairman Mr. Dimitris Copelouzos, and on behalf of Shenhua Group by General Manager or Capital Operations, Mr. Zhou Dayu.