In the first half of 2024, Greek energy giant PPC Group achieved a substantial increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), totaling €927 million—up 57% from the same period last year. The company’s total investments for the period reached €1.1 billion, reflecting a significant rise in spending on electricity distribution and renewable energy sources (RES), as part of PPC’s strategy to expand clean energy production and modernize its distribution networks.
Investments in renewables, distribution, and digitalization surged to €800 million, marking a 120% increase compared to H1 2023, including contributions from Romania. The installed capacity for renewable energy climbed to 4.7 GW by the end of June 2024, up from 3.5 GW a year earlier. Additionally, projects totaling 3.3 GW are currently under construction or in the ready-to-build stage, aiming to achieve an 8.9 GW target by 2026.
Lignite-based electricity production saw a 30% decrease in H1 2024, amounting to 1.5 TWh and representing 16% of PPC’s total output. This decline contributed to an 8% reduction in CO2 emissions compared to H1 2023, continuing a positive trend with a 57.8% reduction in emissions from 2019 to 2023. In contrast, RES-based electricity generation increased by 65% in H1 2024, reaching 3.1 TWh and accounting for 33% of PPC’s total electricity generation.
