Macquarie Asset Management has agreed to acquire a 49 percent ownership interest in Hellenic Electricity Distribution Network Operator (HEDNO) from Public Power Corp. (PPC), Greece's largest power utility.
HEDNO is responsible for the operation, maintenance and development of the national power distribution network in Greece. The business serves more than 7.6 million customers across the Greek mainland and its islands via a 242,000-kilometer (150,371-mile) network of electricity distribution lines, interconnectors and substations.
Macquarie said its investment will be made on behalf of institutional investors, such as pension funds and insurance companies. The company will partner in the long-term ownership and development of the business alongside PPC, which will retain the remaining 51 percent ownership interest. HEDNO’s investment plan will also support Greece’s energy transition to net-zero carbon emissions.
“The transition to net-zero emissions is res