Greece, PPC will double electricity production from renewable energy sources within 2022

, SEE Energy News

CEO of Greek Public Power Corporation (PPC) Giorgos Stassis said that the company will double electricity production from renewable energy sources within 2022, according to its plans to increase the installed wind and solar capacity to 489 MW from the current 239 MW.

Stassis said that a 200 MW solar power plant will be added in Ptolemaida in northern Greece, and a 50 MW solar power plant in Megalopoli in the Peloponnese, both due to be completed within six months, while other wind and solar power plants that are under construction will add a further 100 MW by the end of 2023.

Licenses held by PPC at various stages of completion amount to 5.9 GW in total, of which 4.7 GW is solar and 1 GW is energy storage units.

Stassis said that 80 % of the target for renewables in 2026 had been covered, while possible buyouts in the sector are being considered.

PPC announced its Q1 2022 EBITDA in the amount of 170 million euros, down from 226 million euros in the first quarter of 2021, adding that the aim is to maintain the same levels of operating profitability as in 2021, despite the energy crisis and higher costs this entails.

The company said that its spending to support customers with discounts reached 360 million euros.