Investments of 1.9 billion euros, new jobs and a vote of confidence in the prospects of the Greek economy are signaled by the acquisition of the shares of DEPA Infrastructure by Italgas, which was completed today.
This results from the statements made today in the context of the signing ceremony of the relevant agreement, at the Italian embassy in Athens.
DEPA Infrastructure, it should be recalled, participates in the natural gas distribution networks of Attica, Thessaloniki – Thessaly, as well as DEDA, which develops the networks in the rest of the country. The shareholders of the company were TAIPED with 65% and Hellenic Petroleum with 35%. The tender for the sale of the company was completed last year and in the meantime legal and regulatory issues related to the transaction were dealt with.
In his statements, the Minister of Environment and Energy Costas Skrekas underlined: “Today a very important process was completed. Italgas is investing in Greece almost 900 million euros to buy DEPA Infrastructure and in this way to help the Greek economy, to help Greece and Greek consumers of natural gas today but consumers of renewable gases and hydrogen tomorrow.Italgas is the third largest natural gas transmission and distribution company in Europe, a company that has an investment plan exceeding 8 billion euros by 2028 from which 1.9 billion euros will be invested in Greece. This will create many new jobs, expand the natural gas distribution networks in the country. Today of course the networks carry natural gas, tomorrow they will carry renewable gases, biogas, biomethane and later hydrogen Thus they will help to achieve the green transition to renewable fuels faster and they will also help the energy autonomy of Greece.
Finance Minister Christos Staikouras said: “The closing of the transaction demonstrates the completion of one of the largest privatizations in the country and reflects the confidence of international investors in the prospects of the Greek economy. This agreement with one of Europe’s largest energy groups is expected to generate additional boost to DEPA Infrastructure, create new jobs and lead to new investments with a green footprint. I thank everyone who worked methodically to address all issues to achieve today’s result. I hope that future developments will confirm our commitment to investment distinguished for their economic efficiency and social cohesion. I call on all sides to continue responsibly and maintain cordial cooperation.”
The managing director of ELPE Andreas Siamisiis referred to the benefits of the transaction for the company, DEPA Infrastructure, which he said is part of a family that will help it grow more in Greece, the shareholders (ELPE and TAIPED) and the economy as a whole. He also expressed the hope that there will be further cooperation in the future, as ELPE develops the field of hydrogen production.
“We are particularly pleased with the completion of a landmark transaction for TAIPED and for the country, the sale of the shares of DEPA Infrastructure to Italgas”, stressed TAIPED CEO Dimitris Politis and added: “This investment, which will be accompanied by of significant investments for the development of the network, is an important vote of confidence in the Greek economy and in the role that Greece will play in the energy field. the management of Hellenic Petroleum for the trust they showed in TAIPED to undertake this process on their behalf, but also for the guidance and catalytic role they played in the short completion of the process”.
Finally, Italgas CEO Paolo Gallo said: “As Mr. Politis said, the journey has been long but the most important journey will begin now. Because we believe that Italgas can add value to this country, help the its energy transition and to expand gas distribution networks throughout Greece. I thank Mr. Politis, our friends at ELPE and Minister Mr. Skrekas who were extremely helpful during this period. After 10 years, Italgas is returning to Greece . We will try and I am sure we will succeed in supporting the energy transition even in this difficult period that the European Union is going through”.
Source: Capital
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