Τhe European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Public Power Corporation S.A. (PPC) and Metlen Energy & Metals Single Member S.A. (“Metlen”), both based in Greece.The action primarily concerns the operation of battery-based electricity storage facilities in Bulgaria, Italy and Romania. The Commission argued that the notified transaction would not raise competition concerns, given the limited combined market position of the companies resulting from the proposed operation.The notified transaction was examined under the simplified merger review procedure. The projects are accelerating investment momentum in energy storage, with significant implications for the stability of their electricity systems, enabling the dispatch of up to 3,000 MWh of green energy during periods when there is no sun or wind.In practical terms, the cooperation establishes a 50–50 joint venture, with Metlen contributing its expertise in project construction, while PPC provides energy management capabilities and synergies from its presence in solar and wind assets in Romania, Bulgaria and Italy.
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