July 28, 2022

Milbank Advises Public Power Corporation on Its Participation in the East Med Corridor System Connecting Europe and Asia


Milbank LLP is advising Public Power Corporation S.A. (“PPC”) in connection with its participation in a joint venture that will construct and operate a new submarine cable system and ancillary terrestrial infrastructure and network linking Europe with Asia (the “East Med Corridor System” or EMC project).

"The EMC Project enables the Kingdom of Saudi Arabia, Greece and Cyprus to leverage their geographic location, creating a much-needed new data corridor for the global economy, placing the countries at the epicenter of data transfer, storage and creation in Eurasia, by creating an infrastructure of digital connectivity between countries, which is the cornerstone of the digital transformation era," emphasizes PPC.

PPC is the largest generator and supplier of electricity in Greece, providing electricity to approximately 5.9 million end-customers. For more than 70 years, PPC has been at the forefront of Greece’s power industry and an integral part of the country’s process of electrification.

The Milbank team is led by Corporate Partner Markus Muhs and Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis, with assistance from Corporate partner Alexander Rinne and associate David Schwenneker and Project, Energy and Infrastructure partner Jacqueline Chan.