The Group is active in the production, trading and supply of power in Greece, through its participation (50%) in the JV Elpedison B.V. (the remaining 50% is held by EDISON International).
In July 2019, HELLENIC PETROLEUM announced the successful acquisition of 24,22% of ELPEDISON SA by the ELLAKTOR and ELVAL-HALCOR groups. As a result, ELPEDISON BV, where HELLENIC PETROLEUM Group holds 50%, now owns the entire share capital of ELPEDISON SA.
ELPEDISON S.A. is currently the second-largest independent power producer in Greece with a total installed capacity of 810MW (comprising a 390 MW plant in Thessaloniki, since 2005 and a 420 MW plant in Thisvi, since 2010).
In 2019, ELPEDISON S.A. was granted by RAE with a power generation permit for a new combined-cycle station in Thessaloniki, with natural gas used as a fuel, with a nominal capacity of 826 MW. In addition, the company strengthened its position in the liberalized Natural Gas supply market, expanding its customer base, mainly in the Attica, Thessaloniki and Thessaly regions, while it is already importing significant quantities of Liquefied Natural Gas (LNG) through DESFA's terminal in Revithousa, part of which is channeled into the wholesale market.
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The Group is active in the natural gas sector through its participation in DEPA S.A. (35% HELLENIC PETROLEUM S.A., 65% HRDAF).
The DEPA Group is active in:
- the supply of Natural Gas in Greece (through long-term contracts as well as spot cargoes of LNG,
- the supply of Natural Gas to large scale customers (power generation plants, industries and supply companies),
- natural gas supply through ΕPA Attiki to small and medium scale consumers and
- the distribution of medium and low-pressure gas through the Gas Distribution Companies (EDA), following the unbundling of distribution and supply activities.
DEPA also participates in international gas transportation projects.
In 2018, the sale of 66% stake in the share capital of DESFA (HRADF participation: 31%, HELLENIC PETROLEUM S.A.: 35%) to the company “SENFLUGA Energy Infrastructure Holdings S.A.”, which is a joint venture between Snam S.p.A., Enagás Internacional S.L.U. and Fluxys S.A., was successfully completed for the total consideration of €535 million (HELPE participation: €284 million).
As part of DEPA’s forthcoming privatization, the Group will seek to further clarify its position in the Natural Gas sector, maximizing the value of its participations and focusing on activities that complement its portfolio.
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