In March 2007 ENDESA officially entered the Greek electricity market by creating Endesa Hellas. This company is the result of a strategic alliance signed by ENDESA and the Greek industrial group, Mytilineos Holding, and is the largest independent power operator in that country. Its capital is shared between the two partners: 50.01% and 49.99% respectively.
Endesa Hellas has the largest portfolio of projects under construction and development in the Greek market, where it expects to have a share of 10% in 2010. These projects represent a gross capacity of approximately 2,500MW in thermal (natural gas and clean coal) and renewable energy (wind, hydro and solar) plants. Its activities will be complemented by electricity and CO2 emission rights trading and it intends to introduce a development plan with the objective of supplying energy to end customers in the medium term.
Through Endesa Hellas, ENDESA has acquired an important stronghold in one of Europe's most attractive electricity markets both strategically, given its growth prospects, and in terms of its pricing structure and interconnections with surrounding countries.
