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| Endesa and Mytilineos create new operator in the Greek market Endesa, the largest Spanish electricity company, and the Greek metallurgical and engineering company Mytilineos Holdings have announced a strategic alliance for the Greek market which will expand into Southeastern Europe. The new company, with the largest independent portfolio in the pipeline and under construction and a well-balanced mix between thermal and renewals, will become into the largest independent power operator in Greece. In the joint venture, which will have an initial capitalization of about € 1.2 bn Endesa will have a stake of 50,01%. Mytilineos will contribute its entire thermal and renewable energy assets and licenses. The contribution of the assets is expected to start immediately and be completed 12 months from now. The scope of the new company includes the construction and operation of thermal power stations (natural gas and coal), renewables (wind parks, hydro and photovoltaic) as well as electricity and CO2 emissions trading. Gradual retail penetration is also foreseen after the opening up of EU markets in July 2007. write your comments about the article :: © 2007 Construction News :: home page |