Motor Oil Hellas and Public Power Corporation have signed a Memorandum of Understanding under which they agree to build the framework and carry out investment projects in the green hydrogen sector through a joint venture arrangement.
MOTOR OIL (HELLAS) S.A. will contribute 51% to the joint scheme, while PPC S.A. will contribute 49%.
The two parties assert that the Joint Venture plan will be a pioneer in the development of Greece’s hydrogen economy, leveraging PPC S.A.’s RES energy production platform and MOTOR OIL (HELLAS) S.A.’s dynamic profile and know-how as one of the country’s leading energy organizations.
The Joint Venture’s primary purpose will be to develop projects for the production and storage of green hydrogen, thereby enabling Greece’s energy transition to a carbon-neutral environment.
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