Greece: PPC plans to offer 5 % stake in solar projects to regions hardest hit by decarbonisation plans

21. October 2020. / SEE Energy News

Greek Public Power Corporation (PPC) plans to offer 5 % stake in its future solar projects to the population of lignite-dependent region, which will be hit the hardest by PPC’s decarbonization plans, said Giorgos Stassis, CEO of the company.

According to previous announcements, PPC is planning to build solar power plants with total installed capacity of up to 2.5 GW on depleted coalmines in western Macedonia and the Peloponnese, both regions which are heavily dependent on lignite mining activities.

Stassis said that, besides opening new jobs opportunities, PPC is offering the population to acquire shares in its solar projects, thus benefiting from the same returns as the company. He stressed that the annual investment return on these investments will range between 8 and 10 %, at a time when deposit interest rates are almost negative.

PPC is expected to present the revised three-year business plan which will be a more ambitious and confident than last year’s version, as it features bolder digitalization steps, a more aggressive retail market policy, aim for a RES portfolio well over 1 GW over the next three years, through a pool of prospective projects totaling 6 GW.

 

 

 

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