The European Commission's green light has been created joint company between PPC and Metlen Energy & Metals, paving the way for the joint development and operation of electricity storage projects in strategic markets in Southeast Europe.
According to the Commission communication, the transaction was approved under the European Merger Regulation, as competition issues were not identified due to the limited combined market share of the two groups in the activities concerned. The examination was carried out with the simplified merger control process.
The joint company will be active mainly in the field of battery storage systems (Battery Energy Storage Systems – BESS) in Bulgaria, Italy and Romania, markets considered key to the new phase of the development of the European storage market.
The Commission's approval comes at a time when both PPC and Metlen accelerate their investments in flexible production, RES and storage infrastructure, considering that batteries are a crucial link to the stabilisation of electricity systems and greater penetration of renewable energy sources.
For PPC, storage is a key pillar of the new investment plan recently presented on the market, with the group seeking to develop into a pan-European utility with a strong presence in new energy technologies. For Metlen's part, the development of BESS projects is linked to both the international RES portfolio it develops and its strategy for high added-value energy infrastructure.
It is noted that Romania and Bulgaria are in the process of rapidly developing RES projects and are looking for balancing solutions to their networks, while Italy is one of the most mature and attractive storage markets in Europe, with significant investment incentives and an increasing need for flexibility in the electricity system.
