With a vision to transform into an economically and environmentally sustainable, modern, digital company, PPC is securing a leading position in the field of Renewable Energy Sources (RES). In this way, PPC is systematically investing in green energy, highlighting the importance of environmental responsibility and sustainable development.
At the core of PPC’s strategy for the period 2024-2026 is the shift towards RES, with investments amounting to €9 billion, primarily in green forms of energy and the upgrade of distribution networks. The management of PPC, presenting the business plan at the Capital Markets Day 2024 in London, set the goal of becoming a leading force in clean energy in Southeastern Europe. PPC’s green transition relies on decarbonization and the decommissioning of lignite units. Already, units with a net capacity of 1.9 GW have been decommissioned and replaced by new RES projects. By 2030, PPC’s installed capacity is expected to reach 17 GW, 75% of which will come from clean energy sources.
PPC’s strategy is based on the “Creating Shared Value” (CSV) model, which promotes value creation for the company, society, and the environment. Aiming for a Net Zero carbon footprint and Nature Positive operations, PPC Group collaborates with entities and organizations on initiatives that have a positive environmental impact, significantly contributing to the achievement of the Sustainable Development Goals (SDGs) for the environment.
Significant RES projects are already underway. In Western Macedonia, PPC and RWE are advancing the construction of a photovoltaic park with a total capacity of 450 MWp. This project, an investment of €255.4 million, is expected to be operational by the end of 2025. The partnership between RWE and PPC also includes the construction of two more photovoltaic parks in Western Macedonia. One park will have a total capacity of 210 MWp, an investment of €180 million, and the other will have a total installed capacity of 280 MWp, an investment of €196 million. The construction of all three energy parks is 50% funded by the Recovery and Resilience Facility “Greece 2.0”.
PPC is also collaborating with the Intrakat Group for the joint development of a renewable energy portfolio with a total capacity of up to 2.7 GW. As part of this agreement, Intrakat Group has transferred to PPC Renewables six RES projects with a total capacity of approximately 164 MW. This agreement marks a significant step towards sustainable development and the enhancement of Greece’s energy independence.
Additionally, PPC Renewables is developing the “Phoebe” photovoltaic project in Ptolemaida, with a total capacity of 550 MWp. This investment, with a budget of €368 million, is part of the Green Transition pillar of the Recovery and Resilience Facility (RRF). The project is expected to be completed within 2025 and will meet the needs of approximately 200,000 households, preventing the emission of 550,000 tons of CO2 annually.
As a result of investments in renewable energy sources (RES), such as those mentioned above, energy production in 2026 will become greener, with 54% of energy coming from RES. PPC has set a goal to double its installed RES capacity to 8.9 GW by 2026, with RES representing 68% of the company’s total capacity. Simultaneously, PPC Group’s total installed capacity will increase to 13.1 GW, despite the decommissioning of lignite, natural gas, and oil units totaling 2.8 GW. Through these investments, PPC aims to reduce CO2 emissions by 75% by 2026 compared to 2019, making energy production significantly greener.
With these initiatives, PPC is leading the green revolution in RES, demonstrating its commitment to a sustainable future and environmental protection. Through strategic investments and partnerships, PPC promotes Greece’s energy transition, strengthening the economy and improving the quality of life for its citizens.
