The strategic expansion actions of the Greek electricity company PPC in Southeast Europe are turning into a powerful tool of economic diplomacy for Greece and its interests in the extended region, writes the Greek publication Energy Press.

Thus, PPC Group becomes the most active ambassador for the promotion of Greece’s economic and energy interests in the neighboring region, in a sector where control over corridors and energy resources is equivalent to geopolitical power, a fact that has not gone unnoticed by international experts. factors.

Recently, we have seen this happen more and more thanks to the contacts that the PPC leadership, through Executive Director Georgios Stasis, maintains with government officials both in the wider region and on the other side of the Atlantic.

Both the meeting that the Greek manager had ten days ago in Washington with the US Deputy Secretary of State responsible for energy resources, Jeffrey Payette, and the meeting two days ago in Bucharest with the Prime Minister of Romania, Marcel Colaku, demonstrate the role of a diplomatic tool that the PPC is currently playing.

In the American capital, G. Stasis held a discussion with Geoffrey Payette about the active role that the group can play through the large energy corridors of Eastern Europe and the “Three Seas Initiative” (3S), that is, the initiative of 13 countries around the Baltic, Black and Adriatic seas, which with the support The USA seeks to protect itself from the threat of Russia, emphasizing the strengthening of the role of Greece.

Through strategic expansion, the Americans see Greece gradually positioning itself in the region and that its actions are in line with their geostrategic interests at a time when the war in Ukraine has shifted their interests to strengthening Eastern Europe against Russian influence. The fact that at this stage the PPC is gaining a presence in the strategic energy corridor that starts in Greece, crosses Bulgaria and ends in Romania, increases the importance of Athens in the eyes of the Americans. And the special importance of Greece grows through the checkpoint.

The approach of the Romanians

Romanians look the same way. In the energy sector and in the economic sector in general, Romanians have for decades maintained relations with the Italians, who consider the Balkans their vital space, their sphere of influence, an approach they do not hide in their business relations.

Now their country has a new player from the Balkans, that is, from the same region as them, more modest than the Italians, but which seeks to invest three times more capital in renewable energy sources. is to build a capacity of 1.5 GW instead of the 500 MW envisioned by Enel when it was still present in Romania.

The fact that G. Stasis was the keynote speaker at the annual ZF Power Summit 2024 yesterday was no accident. And it is even more interesting that the leading panels, in addition to questions about PGNK’s plans and how the company sees the Romanian market or the importance of the Balkan Energy Corridor, cited Greece as an example to follow and praised its successes in the economic and energy spheres.

“We see that Greece is declaring itself as a European champion in the green transition, that it has a very good record in the absorption of European funds, in the installation of new SRE projects, results that should wake up our own companies, because nothing like this is happening in Romania either. “, the coordinator said. Valuable commentary from a country that for many years has had one of the highest growth rates in the EU, managed to dramatically raise the standard of living of its citizens, and international organizations and analysts often mention the stability of its economy.

And since the human factor always plays a role in business relations, it is interesting that Georgios Stasis, addressing the Romanian audience, mentioned the importance of Romania as a very important country on the outer border of Europe, with stable governance, strong economic prospects and great opportunities.

Stassis talked about the energy corridor of the Balkans, saying that it will be a win-win project for two countries (Greece, Romania), he talked about synergies in the field of SRE (for example, when the wind does not blow in one country). , he blows into another) and, of course, about PPC’s plans to make a €2.5 billion investment in Romania. It should be noted that thanks to the aforementioned investments, the former Enel Romania was able to rise from the EBITDA of 200-300 million euros, which it traditionally had, to 500 million euros.

The article was created with the support of Rador Radio Romania