Georgios Stasis, CEO of Public Power Corporation (PPC), the group that acquired Enel Romania, recently became vice president of Eurelectric, the association that represents the European electricity industry in Brussels. The appointment of Giorgis Stasis is good news for Romania, as he is an expert on the local energy market and the company he heads has plans to expand in the country with the acquisition of Enel’s assets.

In addition, following the signing of the purchase agreement, PPC announced that Romania is a strategically important market for the Greek group and that it intends to invest in the development of local operations. The aim of PPC, which will acquire the assets of Enel Romania in the third quarter of this year, is to become a leader in the clean energy market in South-Eastern Europe.

The new management of Eurelectric takes place in the conditions when the reform of the organization of the electricity market is being discussed at the level of the European Union. It contains changes to several pieces of EU legislation that directly affect energy consumers – both households and businesses.

The team, which includes the CEO of PPC, has put together an ambitious program that advocates a structural approach that goes beyond last year’s urgency of controlling costs in a price crisis. Thus, consolidating electricity networks as a pillar of the energy transition, rethinking security of supply in Europe and ensuring appropriate investment conditions are the three key priorities of Eurelectric’s new management team.

After taking office, Georgios Stassis emphasized the urgent need to prioritize infrastructure development and digitization to avoid future risks and excessive volatility. He urged politicians and regulators to strongly support the acceleration of electrification and actively promote the green agenda. Accelerated investment in electricity infrastructure is an important part of Europe’s path to energy independence and a net-zero economy, and a sustainable energy market means long-term secure, affordable energy, as well as achieving climate goals, he added.

A strengthened and expanded electricity infrastructure will have serious positive consequences for the protection of the internal energy market. According to Eurelectric, by 2030, 50% of low-voltage lines in Europe will be over 40 years old, and they will have a significant number of renewable energy sources, heat pumps and electric vehicles. Between 2020-2050, investments in the distribution network should reach 38-100 billion euros per year.

With more than 15 years of experience in the energy sector, Georgios Stassis has been CEO of PPC since 2019, during which the Greek company has had an upward trajectory, suggesting a clear decarbonization path. From 2016 to 2019, Stasis served as CEO of Enel Romania, previously heading the Eastern Europe and Middle East division of Enel Green Power.

Upon completion of the Enel Romania acquisition, the PPC Group will exceed 11 GW of installed capacity and serve 8.9 million customers across multiple markets, approximately 41 TWh of electricity supplied, 78 TWh of distributed and more than 27 TWh of generation in a regulated asset base (Regulated Asset Base) will reach 4.15 billion euros.

Eurelectric represents more than 3,500 energy companies from all over Europe.

Article supported by KPP