Strategic Partnership between PPC and CMEC

Announcement

PPC S.A. announces that, within the framework of the meeting between  PPC management and a delegation of high ranking executives of the Chinese company CMEC headed by the chairman Mr. Zhang Chun, a Memorandum of Strategic Partnership between the two companies was signed by PPC’s Chairman and CEO, Mr. M. Panagiotakis and CMEC’s Chairman (Mr. Zhang Chun).

The Memorandum provides for the cooperation of the two companies in order to examine the potential for joint projects in Greece and the neighboring countries, in energy generation from Thermal and Hydro units as well as RES, the modernization of existing units and any other project that PPC and CMEC will agree on.

On this occasion, CMEC’s Chairman Mr. Zhang Chun stated his proposal for the establishment of a joint venture with PPC for the realization of their cooperation. He also announced that CMEC intends to realize a large scale investment in Greece for the set up of a production facility of “Smart Meters” in collaboration with PPC, Smart Meters which will be sold in Greece and in foreign markets, as well as the establishment of a company office in Athens.

Athens, October 25, 2016