NECO S.A. is a joint Greek – Bulgarian company founded in August 2002 in Athens. Its shareholders are Bulgaria’s state-owned power production company, NEK EAD by 50%, Prometheus Gas S.A. by 25%, and NOVAERA S.A. by 25%.
NECO S.A. holds a leading position in the trade of electric energy within the wider Balkans area, holding a Trading License of 450 MW and importing significant quantities of Bulgarian electric energy to the Greek electric system, while it has presented significant activity along the Greek-Italian and Greek-Turkish electrical interconnections importing/exporting electricity.
In recent years, NECO S.A. has achieved considerably high electricity sales through the Greek international electrical interconnections.
The company has set a target for the development of new power generation plant from renewable energy sources and particularly from hydro-power stations and wind parks in the neighboring country Bulgaria, currently being in different licensing stages, thereby establishing its own generation base.