Aluminum from Greece, the country’s leading company in this sector, will no longer depend on Public Power Corporation for its energy supply from 2023, announced owner Evangelos Mytilineos on Tuesday during the public company’s annual general meeting.
He said AoG will confirm the new and definitive power supply contract with PPC in its 60-year operation in the next few days. This is thanks to the aluminum company’s ability to meet its energy needs from the new natural gas facility currently being built near the AoG plant and from the company’s renewable energy sources. The capacity of the gas plant will be able to meet three times the needs of AoG.
Mytilineos estimates that Aluminum of Greece, by far the largest electricity consumer in the country, will strengthen the Mytilineos Group’s energy arm role in the emerging electricity purchase agreement (PPA) market.
The CEO also announced the signing of a new 10-year contract with mining giant Glencore valued at $ 1.5 billion for Aluminum of Greece to keep the British-Swiss company on alumina and aluminum for the next four years Prices to supply.
AoG will implement a 600 million euro investment plan later this year.