PPC establishes subsidiary in Bulgaria

PPC establishes subsidiary in Bulgaria

 

By Spiros Sideris – Athens

PPC announced the establishment of a subsidiary company based in Sofia, Bulgaria, together with the Swiss company ALPIQ Group, in which the Company holds 85% of the stake, while ALPIQ 15%.

The company is trading electricity, while its capital amounts to 1,200,000 Bulgarian leva, or about 614,000 euros.

According to the announcement, the new subsidiary is in the process of filling an application for licensing by the relevant Regulatory Authority for Energy of Bulgaria.

The establishment of the subsidiary is in the broader context of the company’s strategy to expand to new markets in Southeastern Europe.