The companies inked an MOU to establish the framework and carry out investment projects related to the green hydrogen sector. The participation of Motor Oil Hellas in the joint scheme will be 51% while that of Public Power S.A. will be 49%.

The main objective of the JV will be the development of projects for the production and storage of green hydrogen thus facilitating the process of Greece’s energy transition to an environment of net-zero carbon emissions.

The two parties maintain that the JV scheme will be a first mover in the development of the hydrogen economy in Greece, having access to the RES energy production platform of PPC S.A. and taking advantage of the dynamic profile and knowhow of Motor Oil Hella.