QPI acquires stake in Greek energy company

heronHERON II is a 435MW power plant. (Image source: HERON) Qatar Petroleum International (QPI) has acquired a 25 per cent stake in Greek company GEK TERNA’s HERON II power plant

Located in Viotia, this is reportedly the first time a Qatari state-owned company has acquired an energy asset in Greece. It is also is first stage of the partnership between QPI and GEK TERNA, the company said.

QPI will operate HERON II together with GEK TERNA and GDF Suez, a French electric company, it added.

Nasser al-Jaidah, CEO of QPI, said, “QPI is always seeking to forge new alliances with global partners and in GEK TERNA, we found a match that will propel the company’s mission to drive Qatar’s global diversification, expansion, and investment in the energy sector. This is just the first step of a strategic alliance that further bolsters Qatar's standing as a global energy supplier.”

George Peristeris, CEO of GEK TERNA, added that this was a milestone, not only for the company but also for Greece, as it was the first time that a Qatari company, and one of the top global players, had invested in a Greek energy asset.

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