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The Group was the first independent power producer in Greece, after the liberalization of the domestic power generation market. In 2003, it established the 100% Group subsidiary T-POWER, operating since 2005 a Combined Cycle Gas Turbine (CCGT) plant with a capacity of 390 MW in the Thessaloniki industrial installations.
In 2008, HELPE and Edison, the second largest power producer in Italy, signed a strategic alliance agreement for power generation and trading. The alliance was transformed into the ELPEDISON joint venture, which includes ELPEDISON POWER and ELPEDISON ENERGY.
ELPEDISON POWER is the second largest independent power producer in Greece, with total installed CCGT capacity of 810 MW, comprising a 390MW gas-fired plant in Thessaloniki and a 420MW in Thisvi.
ELPEDISON ENERGY is one of the largest alternative electric power suppliers, with sales of 400 GWh to MV and LV customers.
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HELPE holds 35% of the DEPA (Public Gas Corporation of Greece) Group’s shares, the main natural gas importer and supplier in Greece. The Hellenic Republic Asset Development Fund (HRADF) owns the remaining 65% of DEPA.
DEPA has signed long-term contracts with power producersin Greece, including the Public Power Corporation SA, ElpedisonPower, selected industrial clients and existing EPAs (Gas Supply Corporations). Furthermore, DEPA has signed long-term natural gas supply contracts through pipeline (from Russia and Azerbaijan) and holds capacity rights for two distribution pipelines.
DEPA owns 51% of EPAs, holding an exclusive right to sell and distribute natural gas to certain regions for 30 years (small industry, business and domestic clients). Three EPAs have been established so far in Attica, Thessaloniki and Thessaly, while new EPAs in other regions of Greece are being planned.
In accordance with EU requirements for the liberalization of the local market, the high pressure gas transmission system and domestic gas distribution and storage facilities were regrouped by DEPA into a new corporation named National Natural Gas System Operator SA (DESFA), which is a 100% DEPA owned subsidiary.
On 16 February 2012, HELPE and HRADF jointly agreed to initiate the procedure for selling their share inthe DEPA Group, with the intention to transfer 100% of the supply and trading activity, shares in regional trading corporations, and 66% of shares in the high pressure gas transmission network.
The selling procedure resulted in a binding offer for acquiring 66% of DESFA by SOCAR (State Oil Company for Azerbaijan Republic). The offer amounted to €400 million for 66% of DESFA. HELPE’s 35% stake in DESFA share capital stands for €212 million. The transaction is subject to the approval of competent regulatory authorities. In 2013, the Share Purchase Agreement was signed, and the closing of the transaction is subject to the approval of the European Commission competition authorities. In 2013, the Share Purchase Agreement was signed, and the closing of the transaction is subject to the approval of the European Commission competition authorities.