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GEK TERNA and Motor Oil have signed a binding agreement to merge their electricity and natural gas supply and generation activities into a new entity (UtilityCo), with equal participation. The transaction is expected to be completed by early 2026.
Metacon secured an order from Motor Oil for a 30 MW electrolysis plant (expandable to 50 MW) for hydrogen production at Motor Oil's refinery in Ag. Theodoroi, Corinth, Greece. The deal is valued at close to SEK 250 million.