Greece: Decreased profit for PPC Renewables in 2020

, SEE Energy News

In 2020, the renewable energy arm of Greek state-controlled Public Power Corporation (PPC) – PPC Renewables recorded a net profit in the amount of 4.3 million euros, which is 43 % lower compared to the previous year.

The company recorded significantly lower profit, although its revenues increased by 14 % in 2020, reaching 30.4 million euros. However, its expendi-tures rose to 11.5 million euros, compared to 10.5 million in the previous year. Thus, the company’s EBITDA has risen to 17.5 million euros, compared to 16.1 million euros in 2019. PPC Renewables is currently involved in the construction of 200 MW solar power plant in Western Macedonia, as well as 45 MW in wind and small hydro at several locations. It has also secured li-censes for 2 GW in solar power plants, while filing applications another 600 MW.