Greece, PPC Renewables recorded a net profit in the amount of 4.4 million euros in H1 2021

, SEE Energy News

The renewable energy arm of Greek state- controlled Public Power Corporation (PPC) – PPC Renewables recorded a net profit in the amount of 4.4 million euros in the first half of 2021, which is 19.1 % higher compared to the same period last year .

The company’s revenues in the first six months of the year amounted to 15.6 million euros, compared to 13.1 million euros a year before. However, its H1 2021 EBITDA has dropped to 7.8 million euros, compared to 9 million euros in the first half of 2020.

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 licenses for 2 GW in solar power plants, while filing applications another 600 MW.