Public Power S A : Memorandum of understanding between PPCR S.A. and MASDAR TAALERI GENERATION D.O.O. (MTG)

Memorandum of understanding between PPCR S.A. and MASDAR TAALERI GENERATION D.O.O. (MTG)

Announcement

PPC S.A. announces that a Memorandum of Understanding was signed between PPC Renewables S.A. and MASDAR TAALERI GENERATION D.O.O. (MTG). MTG is a joint venture company between Masdar (50%) and Taaleri Energia (50%), focused on the development of renewable energy projects in Central and Eastern Europe.

The parties have agreed to focus on wind and solar projects, with the projects' implementation to be based upon the optimum business model and collaboration structure, in line with each party's respective corporate policies.

Through their common efforts, the parties are targeting the development of at least 300MW of renewable projects, which is in line with Greece's ambitious targets for further increasing renewables' penetration in its energy mix.

Abu Dhabi's renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, Masdar's mandate is to help maintain the UAE's leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Masdar's renewable energy projects are located in the UAE, Jordan, Mauritania, Egypt, Morocco, the UK, Serbia, Montenegro, USA and Spain.

Taaleri Energia is a Finnish-based wind and solar developer and fund manager. Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe and is the largest private equity owner-operator in the Finnish wind market, with 110 turbines producing approximately 1% of all the country's electricity. Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange. Taaleri Group has EUR 6.6 billion of assets under management.

Athens, December 20, 2019