Monday, 19 July 2021 18:16

Press Release- Clearance of the proposed change in the quality of control from sole to joint, by the Public Power Corporation Renewables S.A. and Geoenergy Aegean Single Member S.A., of company Geothermal Target TWO II Single Member S.A.

Subject: Clearance of the proposed change in the quality of control from sole to joint, by the Public Power Corporation Renewables S.A. and Geoenergy Aegean Single Member S.A., of company Geothermal Target TWO II Single Member S.A.

On 14.07.2021, by its unanimous Decision No. 740/2021 the Chamber of the Hellenic Competition Commission approved, pursuant to Art. 8(3) of Greek Law 3959/2011, the proposed transaction notified on 13/05/2021, concerning the acquisition of joint control by the Public Power Corporation Renewables S.A. (PPC Group) and Geoenergy Aegean Single Member S.A. (ELLAKTOR Group) of company Geothermal Target TWO II Single Member S.A.According to the decision, the notified transaction does not raise serious doubts as to its compatibility with the competition rules in the relevant markets, primarily the broader market of production and wholesale supply of electric energy in the interconnected and in the non-interconnected network in Greece.

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