Greece’s Public Power Corp. SA said Friday it will team up with France’s EDF Energies Nouvelles SA to develop wind farms as part of its broader strategy to expand into renewable energy production.
Through their renewable energy subsidiaries, PPC and EDF will jointly build wind-generated power facilities with total power of 122 megawatts, scheduled for completion by 2009, the company said in a statement.
According to the statement, PPC’s board of directors also approved a six-year plan for PPC Renewables, which targets investments and cooperation with third parties for the production of 900 megawatts of power by 2012.
“Via the rapid growth and completion of its operational program, PPC Renewables seeks to acquire and retain 23 percent of the Greek renewable energy sources market by 2014,” PPC said.
The Greek electricity utility is seeking to expand operations in alternative power production in a bid to meet European Union commitments to reduce carbon-dioxide emissions under the Kyoto Protocol on global warming.
The Associated Press
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