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Listed Public Power Corporation (PPC) has signed a strategic agreement with German renewable energy developer ABO Energy GmbH & Co. KGaA to acquire its subsidiaries in Poland and Hungary, along with a renewable energy portfolio exceeding 2 GW.

The deal covers ABO Energy Polska and ABO Energy Hungary and includes 29 special-purpose vehicles holding 99 MW of photovoltaic projects that are either operational or nearing completion, as well as more than 2 GW of solar, wind and battery-storage projects at various development stages.

The agreement strengthens PPC’s position in central and southeastern Europe and follows its recent expansion into both markets. The group entered Hungary through the acquisition of a 57.5-MW solar park and expanded in Poland through the purchase of a 277.3-MW renewable energy portfolio.

The two local platforms being acquired have fully staffed teams with experience across the renewable energy development chain, including site selection, land acquisition, permitting, grid connections, project development and construction supervision, as well as operations, maintenance and financial management.

The transaction is expected to close for the Polish subsidiary in September 2026 and for the Hungarian subsidiary in the fourth quarter, subject to customary conditions, including regulatory approvals.

“The agreement with ABO Energy represents a decisive qualitative leap for the PPC Group in Central Europe,” said Konstantinos Mavros, PPC group deputy CEO for renewables. He said the deal would add not only a substantial project portfolio but also two experienced local teams, strengthening PPC’s regional platform.

Mavros also pointed to recent agreements with EDP Renewables and Greenvolt as part of the group’s broader expansion strategy.

PPC aims to double its total installed capacity to 24.3 GW by 2030 from 12.4 GW in 2025, with annual additions targeted at 2.4 GW, mainly through renewables, flexible generation and energy storage.

The group is also expanding in Italy, Bulgaria and Croatia. By 2030, it expects 45% of its installed capacity to be located outside Greece, supported by a diversified mix of solar, wind, hydropower, natural gas and storage.