PPC Group and METLEN have signed a joint venture agreement (JVA) to develop 1.5GW/3,000 MWh battery energy storage system (BESS) projects in Romania, Bulgaria and Italy.
These projects are planning to implement 1 GW of power next year.
According to the agreement, the two companies will form a joint venture (JV) in which each will hold a 50% stake.
This energy storage facility will employ two-hour liquid-cooled battery systems with innovative LFP technology aimed at improving energy production and ensuring operational safety.
The JV will see the companies combine their expertise in development, construction and energy management.
PPC Group’s existing operations in the three target countries are expected to contribute to rapid project development and efficient energy management.
At the same time, METLEN plans to use its expertise to ensure that the facility is built on schedule and to a high standard.
The purpose of energy storage stations is to enhance the operation of nearby solar photovoltaic and wind parks by storing excess energy for injection into the grid during periods of insufficient sunlight or wind.
These projects are designed to stabilize power systems, promote renewable energy management and maximize the contribution of renewable resources.
This initiative supports PPC Group’s commitment to achieving energy storage targets over the next three years.
Constantinos Mavros, Executive Vice President of PPC Group Renewables, said: “This agreement creates value for both parties and further expands our Group’s already significant presence in Southeast Europe.
“At the same time, the energy storage projects that are already being implemented will ensure the best use of electricity production from renewable energy sources (RES) and, moreover, the stability of the electricity system in our country and throughout Europe.
“PPC is also a leader in this area, as the group’s investment plan includes significant investments in energy storage systems.”
Storage systems will be strategically placed near RES projects for better performance.
For METLEN, the partnership marks an important step in its strategy to establish a significant presence in the European energy storage markets.
This is consistent with its medium-term business plan, focusing on maximizing the value of its RES portfolio and facilitating the transition to clean energy systems.
Nicos Papapetrou, CEO of METLEN’s renewable, storage and energy transmission platform, said: “The agreement with PPC Group marks another important step in METLEN’s strategy to develop and implement projects that support energy transmission and sustainable development in Europe.
