Athens, January 13, 2022
Announcement – Regulated information
MOTOR OIL (HELLAS) and PPC S.A., announce the signing of a Memorandum of Understanding (MoU) for the formation of the framework and the implementation of Green Hydrogen projects through a Joint Venture. MOTOR OIL’s participation in the Joint Venture will be 51% and PPC’s 49%.
The Joint Venture believes that it can lead the development of hydrogen projects in Greece, having access to PPC’s developing renewable energy platform and while at the same time taking advantage of MOTOR OIL’s capacity and know how as one of the largest energy groups in the country.
The Joint Venture to be established aims at the development of Green Hydrogen generation and storage projects in the country, thus facilitating Greece’s energy transition to Net Zero.