Greece’s leading engineering group Mytilineos Holdings confirmed on Thursday that it is in advanced talks with Spanish energy group Endesa, with the view of forming a joint venture for power projects in Greece and South-east Europe. Howevere, they have not reached any agreement yet.
Local press said that the two entities plan to establish a new company active in the energy field where Mytilineos will pass onto all its new energy and renewables activities, while they also plan to bid for new private electricity production units.
Mytilineos already holds a license for an electricity production unit of 360MW installed capacity in Southern Greece and if the agreement comes through the Spanish company will gain a foothold in power generation in Greece ahead of the market’s full deregulation in 2007.
In the meantime, the absorption of Endesa from the German energy giant E.ON is pending approval from Brussels, and any conclusion of the agreement between Mytilineos and Endesa is seen after the official approval of the merger