ELLAKTOR S.A.
ELLINIKI TECHNODOMIKI, HELLENIC PETROLEUM and EDISON GROUPS are creating a powerful partnership in energy production
The final agreements were signed today for the establishment of a company that would create thermal power plants in Greece. Participation in this company includes EDISON Spa and HELLENIC PETROLEUM by 75%, a subsidiary of ELLINIKI TECHNODOMIKI S.A. (Hellenic Energy & Development - HE&D) by 23%, and HALCOR by 2%. EDISON and HELLENIC PETROLEUM will participate in the partnership via a common holding company that will also be active in energy and natural gas trade. Besides ELLINIKI TECHNODOMIKI, INTRACOM also participates in HE&D by 33%.
The new company will constitute an exclusive vehicle for the above corporate Groups in the sector of development, creation, and participation of thermal power producing plants in Greece.
In the initial phase, the joint power producing company will be offered the active natural gas combined cycle power generating plant of THESSALONIKI ENERGY S.A. (a Hellenic Petroleum S.A. subsidiary), with 390MW output, as well as a corresponding power production plant of THISVI POWER GENERATION PLANT S.A. (Edison International 65%, HE&D 30%, and HALCOR 5%), with 420MW output, which is in the construction stage. Furthermore, the partnership will be strengthened by the 600 MW coal unit that EDISON is developing in the area of Astakos, Etoloakarnania, while the prospect of constructing new production units, which will use natural gas, is under consideration.
As Anastasios Kallitsantsis, Managing Director of HE&D and Chairman of the BoD of ELLINIKI TECHNODOMIKI stated: 'Our Group's programme regarding the establishment of powerful alliances in the power production sector is realised today in the best possible way, through a joint venture with the prestigious Groups of HELLENIC PETROLEUM, EDISON, AND VIOHALKO. The partnership that is created concentrates the experience, knowledge, as well as the financial stature that will allow it to play a significant role in developments in the Greek power production sector.'
ELLINIKI TECHNODOMIKI was established in 1957 and at this moment is the biggest Greek Group in the construction and concessions sectors, having significant presence in the energy, environment and real estate sectors. In 2007 consolidated income amounted to euro 914.7 million and consolidated net earnings euro 139 million, while its capitalisation stood at euro 1,400 million.
The new company will constitute an exclusive vehicle for the above corporate Groups in the sector of development, creation, and participation of thermal power producing plants in Greece.
In the initial phase, the joint power producing company will be offered the active natural gas combined cycle power generating plant of THESSALONIKI ENERGY S.A. (a Hellenic Petroleum S.A. subsidiary), with 390MW output, as well as a corresponding power production plant of THISVI POWER GENERATION PLANT S.A. (Edison International 65%, HE&D 30%, and HALCOR 5%), with 420MW output, which is in the construction stage. Furthermore, the partnership will be strengthened by the 600 MW coal unit that EDISON is developing in the area of Astakos, Etoloakarnania, while the prospect of constructing new production units, which will use natural gas, is under consideration.
As Anastasios Kallitsantsis, Managing Director of HE&D and Chairman of the BoD of ELLINIKI TECHNODOMIKI stated: 'Our Group's programme regarding the establishment of powerful alliances in the power production sector is realised today in the best possible way, through a joint venture with the prestigious Groups of HELLENIC PETROLEUM, EDISON, AND VIOHALKO. The partnership that is created concentrates the experience, knowledge, as well as the financial stature that will allow it to play a significant role in developments in the Greek power production sector.'
ELLINIKI TECHNODOMIKI was established in 1957 and at this moment is the biggest Greek Group in the construction and concessions sectors, having significant presence in the energy, environment and real estate sectors. In 2007 consolidated income amounted to euro 914.7 million and consolidated net earnings euro 139 million, while its capitalisation stood at euro 1,400 million.