PPC to invest 9 billion euros in 2024-2026
Greece’s power utility PPC plans to invest 9 billion euros in the 2024-2026 period with the aim to turn the company into a leader in clean energy, infrastructure and services in Southeastern Europe, under the new strategic plan presented by the company’s chairman and CEO George Stassis in London on Tuesday.
The plan envisages that following Romania, PPC focuses on Bulgaria and the wider region with the aim to achieve installed power of 1.1GW by 2030, setting the preconditions for the exploitation of an energy corridor of a portfolio of solar and wind parks.
PPC aims for a 15% annual growth rate in EBITDA to reach 2.3 billion euros in 2026 and around 3 billion euros in 2030.
The investment plan focuses on renewable energy sources seeking to double capacity to 8.9GW, or 68% of PPC’s capacity. This developoment is linked with a gradual shutdown of all lignite units in 2026 and the withdrawal of oil and natural gas units. PPC will increase investments on its distribution grid by 16% annually in the 2024-2026 period, with the aim to accelerate green transition and to invest 110 million euros to promote e-car use.
It also plans to expand its FttH fiber optics network to have 1 million users and revenue of 120 million euros by 2030.
PPC plans to pay a dividend for the first time in 10 years by paying 35% of net profits initially, rising up to 55% of profits.
[AMNA]
