Italy's Edison Enters Greek Market in Joint Venture with Hellenic Petroleum

JOHANNESBURG--July 8, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--In a five year strategic industrial plan lasting from 2008 to 2013, Italy's energy utility Edison S.p.A. (BIT:EDN) (Milan) will invest $9.9 billion boosting generating capacity, upstream and downstream hydrocarbon resource projects and new natural gas transmission and storage facilities. In Greece, Edison is planning a joint venture with Hellenic Petroleum S.A. (ATH:ELPE) (Aspropyrgos, Greece), the country's largest operator in the hydrocarbon sector. The companies plan to create 1,500 MW of generating capacity, which would represent about 12% of current Greek capacity, making the joint venture the second largest power operator and trader in the country.