Public Power Corporation expects its EBITDA to jump by 30% annually after the acquisition of ENEL Romania, since the latter company has a leading position in the Romanian electricity market. Also significant benefits are expected from synergies developing between the two companies, George Stassis, PPC's chairman and CEO, said during a presentation with analysts after the official announcement of the deal on Thursday and the positive reports released by Fitch and S&P.

ENEL Romania is the leader in electricity production from renewable energy sources, the second largest in distribution and the top player in electricity supply. With the acquisition of ENEL Romania, PPC will achieve a 40% increase of assets in the distribution sector, a 56% jump in customer numbers from 5.7 million to 8.9 million, a 14% increase in production capacity in renewable energy sources and a 30% increase in EBTIDA to 1.2 billion euros annually.

S&P, in a report, said the acquisition will significantl increase PPC's size, while operations in a different market with significant growth outlook is positive for the company's business risk profile, while Fitch said the vertical production model and increased contribution from renewable energy sources will help to gradually reduce risks from volatility in wholesale electricity market and to continuing interventions in the energy markets of Greece and Romania.

Stassis told analysts that PPC aims to pay a dividend in 2024.