PPC Group and METLEN have entered into a joint venture agreement (JVA) to develop up to 1.5GW/3,000 megawatt-hours of battery energy storage system (BESS) projects in Romania, Bulgaria and Italy.
These projects aim to implement 1GW within the next year.
Under the agreement, both companies will establish a joint venture (JV) company, each maintaining a 50% stake.
These energy storage facilities will employ two-hour liquid-cooled battery systems featuring innovative LFP technology, aimed at improving energy output and ensuring operational safety.
The JV will see the companies combining their expertise in development, construction and energy management.
PPC Group’s existing operations in the three target countries are expected to aid in swift project development and effective energy management.
At the same time, METLEN plans to utilise its expertise to guarantee that these facilities are constructed on schedule and to a high standard.
The energy storage stations aim to bolster the operation of nearby solar photovoltaic and wind parks by storing excess energy for grid injection during periods of insufficient sunlight or wind.
These projects are designed to stabilise electricity systems, optimise renewable energy management and maximise the contribution of renewable sources.
The initiative supports PPC Group’s commitment to achieving its energy storage objectives over the next three years.
PPC Group renewables deputy CEO Konstantinos Mavros said: “This agreement creates value for both parties and further expands our Group’s already significant presence in south-east Europe.
“At the same time, the energy storage projects already under implementation will ensure the optimal use of electricity generation from renewable energy sources [RES] and, additionally, the stability of the electricity system in our country and across the entire European continent.
“PPC is also a pioneer in this field, as the Group’s investment plan includes significant investments in energy storage systems.”
The storage systems will be strategically placed close to RES projects for enhanced performance.
For METLEN, the partnership marks a significant step in its strategy to establish a substantial presence in European energy storage markets.
It aligns with its medium-term business plan, focusing on maximising the value of its RES portfolio and facilitating the transition to clean energy systems.
METLEN renewables, storage and energy transition platform chief executive director Nikos Papapetrou said: “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.
