Investor Relations - 07.10.2021

Agreement for the formation of JV between PPC Renewables and RWE Renewables

Athens, October 7, 2021

Announcement – Regulated information

PPC S.A., following its announcement dated 9.2.2021 and the signing of the relevant Head of Terms earlier this year, announces that its subsidiary PPC Renewables S.A. has signed agreement with RWE Renewables GmbH to form a Joint Venture company through which they can realise renewable energy projects in Greece together. PPC Renewables will contribute nine solar projects up to a combined total of 940MW, and which are located in northern Greece’s west Macedonia region, within the boundaries of the former Amyntaio open pit lignite mine. RWE Renewables GmbH has secured a Greek photovoltaic project pipeline of similar size for the purpose of including it in the Joint Venture. The photovoltaic projects are in various stages of development: The first projects are expected to start operating in 2023.

The participation in the JV will be 51% for RWE Renewables GmbH and 49% for PPC Renewables S.A.

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