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The Group is active in the production, trading and supply of power in Greece, through its participation (50%) in the JV Elpedison B.V. (the remaining 50% is held by EDISON International).
Elpedison B.V. owns a 78.78% of the share capital of Elpedison S.A. (Elpedison S.A. resulted from the absorption of Elpedison Energy S.A. by Elpedison Power S.A.).
On July 2019, HELLENIC PETROLEUM announced the successful acquisition of 24,22% of ELPEDISON SA by the ELLAKTOR and ELVAL-HALCOR groups. As a result, ELPEDISON BV, where HELLENIC PETROLEUM Group holds 50%, now owns the entire share capital of ELPEDISON SA.
ELPEDISON S.A. is currently the second largest independent power producer in Greece with a total installed capacity of 810MW (comprising a 390 MW plant in Thessaloniki, since 2005 and a 420 MW plant in Thisvi, since 2010).
In 2018, ELPEDISON S.A. entered the liberalized natural gas supply market, thereby expanding its costumer list, mainly in Attica, Thessaloniki and Thessaly.
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The Group is active in the natural gas sector through its participation in DEPA SA (HELPE 35%, HRDAF 65%). The DEPA Group is active in the supply of Natural Gas in Greece (through import pipelines and the Revithoussa LNG terminal), as well as in the trading of Natural Gas to large scale customers such as power generation plants and industries.
DEPA is active in natural gas supply through EPA Attiki, which distributes Natural Gas to small and medium scale consumers, as well as in the distribution of low-pressure gas through the Gas Distribution Companies (EDA), following the unbundling of distribution and supply activities. DEPA also participates in international gas transportation projects.
At the end of 2018, the sale of 66% of the share capital of DESFA which manages and develops the National System of Natural Gas Transmission, to a consortium of European companies Snam S.p.A, Enagas and Fluxys was concluded, for a consideration of €535 million (HELPE share of sale proceeds: €284 million).
In the context of restructuring its position in the retail market, DEPA proceeded to similar transactions during 2018, in EPA ATTIKI and THESSALONIKI-THESSALIA (ZENITH), as well as EDA ATTIKI. More specifically, DEPA sold 51% of the share capital of ZENITH to the Italian Company Eni Gas e Luce, at a price of €57 million and purchased 49% of the share capital of EPA and EDA Attiki from Attiki Gas BV (Shell) at a price of €39 million and €111 million respectively.