New energy interconnections, infrastructures and acquisitions will render Greece a key player in the energy market of Southeast Europe, which is being reshaped mainly based on two factors: the transition to a less polluting energy mix and the reduction of the presence of Russian natural gas in the region, after the invasion of Ukraine.
The acquisitions of PPC in Romania and the expected continuation in Bulgaria or other countries in the region along with the new initiatives of the Independent Power Transmission Operator (IPTO) to strengthen electrical interconnections are the most important moves so far. However, the majority of large energy groups are monitoring the developments in the region looking for penetration opportunities.
In addition to the planned investments to strengthen electrical interconnections with neighboring countries, in the context of the visit of Prime Minister Kyriakos Mitsotakis to Serbia, according to the Athens-Macedonian News Agency’s sources, the possibility of strengthening the interconnection capacity between Greece and Serbia was discussed. The implementation of the plan requires the cooperation of the North Macedonia administrator MEPSO in which, as it has become known, IPTO is interested in participating as a shareholder. It seems, however, that the investment – like other Greek investments in North Macedonia – is being postponed until after the elections in the neighboring country.
After the completion of the second interconnection with Bulgaria, new interconnections are maturing with Italy (1000 megawatts by 2031), Albania (1600 MVA, until 2030), North Macedonia (upgrading the existing line Thessaloniki – Bitola) and Turkey (second interconnection by 2029).
These are projects on the northern borders that are complementary to the plans for the major interconnections (Israel – Cyprus, Saudi Arabia, Egypt) as well as the new Green Aegean Interconnector line that ends in Germany via the Adriatic, which IPTO is also developing.
PPC’s strategy for the Balkans was developed last week in Washington by the head of the business Giorgos Stassis in the context of the 5th Southeast Europe & East Med.
SOURCE; ANA-MPA
