PPC set to return to profitability next year
Public Power Corporation will return to profitability in 2023 and plans to pay a dividend to shareholders in 2024, George Stassis, chairman and CEO, told analysts after the group released its nine-month results on Tuesday.
Stassis said the Greek state will be the biggest beneficiary since it is the largest shareholder of the group with an equity stake of 34%.
PPC’s head underlined the resilience of the group’s operating profitability, which moves in line with goals set by the management amid an unprecedented energy crisis and uncertainty.
Stassis said PPC continues to examine opportunities in Southeast European markets based on its strategic plan.
He also noted that PPC is expected to pilot a new lignite unit with a capacity of 660 megawatts in Ptolemaida soon and that its commercial operation is expected to start in the first quarter of 2023.
PPC is also expected to complete construction of two photovoltaic parks in Ptolemaida and Megalopoli, with a capacity of 200 and 50 MW respectively, doubling the enterprise’s capacity in renewable energy sources.
