PPC Renewables completed the acquisition of Land Power from Lukoil Group.

PPC Renewable, an electric power company in Greece, completed the acquisition of Land Power, a Romanian wind park, from Lukoil Group, a Russian multinational energy corporation. Financial terms were not disclosed. PPC Renewables has previously signed an agreement with European subsidiaries of Lukoil Group to acquire a 100% stake in Land Power. The acquisition of Land Power is part of PPC’s broader expansion plans, as it is also in the process of finalizing the acquisition of Italian energy group Enel’s assets in Romania for €1.26bn ($1.33bn). This acquisition was cleared by the European Commission in June 2023. Enel’s local portfolio includes green energy generation projects with a total planned capacity of 5.4 GW.