Copelouzos Group on Thursday announced the signing of a cooperation agreement with China Energy Investment Corporation in the fields of renewable energy sources and compatible electricity production stations.

In the framework of the cooperation, the Chinese company -the largest energy producer in the world- will acquire a 75 pct participation in wind power parks (with a total power of 1,500 MW) currently operated and developed by Copelouzos Group in Greece, while the two groups have already expressed interest in buying Public Power Corporation's lignite units in Megalopoli and Florina.

The signing ceremony was attended by State Minister Alekos Flambouraris, Deputy Foreign Minister Terence Quick, Deputy Economy and Development Minister Stergios Pitsiorlas and PPC's chairman Manolis Panagiotakis.

Dr. Ling Wen, chairman and CEO in China Energy Investment Corporation, said the the company has established activitiies, among others, in energy production from coal and renewable sources, energy saving, environment protection and co-production. He also referred to the "One Zone, One Road" initiative, supported by Greece and noted that the agreement signed was a landmark in the cooperation between the two companies and will be expanded in the future.

Chen Suhong, the first secretary of China's embassy in Greece, said the cooperation will help both sides to become more competitive and noted that Chinese companies have invested in Greece particularly in the sectors of shipping, communications and energy.

Dimitris Copelouzos, chairman and CEO of the Group, said the cooperation between the two groups is promoted with the best omen and sad it was a big success the fact that the Chinese group has established its presence in Greece. He noted that the framework of cooperation agreed envisages investments worth 3.0 billion euros in the Greek market.