Depa Group

The European Investment Bank (EIB) is lending Greek energy company DEPA Commercial a total of 390 million euros to build and operate solar-energy farms across the country.

The EIB funding covers 75% of total cost of the new photovoltaic (PV) sites, which is expected to reach up to €521 million. DEPA Commercial will create PV farms in western Macedonia, Thessaly and Central Greece.

Greek gas supplier DEPA Commercial has filed for arbitration to seek a price revision on its gas supply contract with Gazprom, DEPA CEO Constantinos Xifaras has said.

The government expressed optimism on Tuesday regarding a deal between DEPA Commercial SA and Russia's Gazprom PJSC, which is set to provide natural gas until at least 2026.

The two sides have reportedly found common ground over disputed issues, which will most likely exclude the need for arbitration, although the government has not removed the option from the table.

Negotiations between DEPA Commercial and Gazprom are at a pivotal point, which may lead to arbitration or even a complete stop in Russian gas imports. Their outcome will also determine the future of the Greek gas company.

Helleniq Energy would consider either acquiring full control of the country's biggest gas supplier DEPA Commercial or fully disinvest from the company, its top manager said.

The positive prospects of the Athens Stock Exchange (ASE) will provide a solution to the suspended privatization of DEPA Commercial, a subsidiary of Public Gas Corporation (DEPA).

The plan is to get HELLENiQ Energy (the former ELPE) to sell its 35% stake in DEPA Commercial to the state, which, in turn, will list the company on the ASE.

DEPA Commercial on Thursday announced its entry on the Energy Exchange of Hungary CEEGEX, a move signalling the company's international expansion and establishing its leading role in energy developments, a company announcement said.

Nine groups submitted a letter of interest in the full ownership of DEPA Infrastructure, a new company to be created by the partial division of the Greek public natural gas company's (DEPA) infrastructure section, by the deadline on Friday.

The Greek government is considering the full sale (100 pct) of the country's state-controlled gas company DEPA as part of its privatization's plan, according to Energy Ministry sources cited by state-run news agency ANA-MPA.

The management of the Public Gas Corporation (DEPA) will enlist foreign consultants to help implement its plans to split the company into two - as part of the process of its privatization - reports said Friday.