Motor Oil will retain a 30% stake in Korinthos, and with Iberdrola, the two firms intend to participate jointly in the tender process launched by the Greek government.
Iberdrola already holds a 49% share in Greece’s largest wind power provider. Korinthos Power will benefit from Iberdrola’s knowledge and experience in developing and managing CCGT technology, the Spanish group says
The construction of new combined cycle plants falls within the framework of Iberdrola’s bid for cleaner energy in defense of the environment, sustainable development and compliance with the Kyoto Protocol, it said in a statement.
