Public Power Corporation

Public Power Corporation (PPC) and Germany's RWE have taken a final investment decision to build five solar farms in northern Greece, the two companies said on Thursday.

The farms will cost €180 million and have a total capacity of about 200 megawatts (MW).

By George Gilson

Prime Minister Kyriakos Mitsotakis announced in a nationally televised statement this evening that the government will give households with an annual income of up to 45,000 euros a rebate equivalent to 60 percent of the energy price hikes that occurred from December 2021 and up  until this month.

With an overwhelming majority of over 99%, the body of PPC shareholders approved the increase of the company's share capital by 750 million euros and the sale of 232 million new shares.

At the same time, the extraordinary general meeting of shareholders approved the transfer of 49% of HEDNO to Maquarie a fund member company from Australia.

The recent heavy, and long by Greek standards over the last decades, snowfalls left behind rubble and a host of citizens without electricity, heat, and water.

By mid-February Greek electricity giant PPC and German peer RWE are expected to sign an agreement for the joint development of renewable energy source projects in the Greek market.

One of the biggest problems Greek industry faces is that of competitiveness, which is partly undermined by the high power rates paid by local industrial groups.

One month after the start of negotiations between Greece's main supplier Public Power Corporation (PPC) and energy-intensive companies on industrial rates, the distance between them remains huge.

Greece's biggest electricity utility, Public Power Corporation (PPC), has pushed back the deadline for the expression of interest for a majority stake in the country's sole grid operator DEDDIE, it said on Friday.

PPC, which is 51% owned by the state, had set January 29 as the deadline for the submission of non-binding bids for DEDDIE.

The Renewables & Storage Development (RSD) Business Unit of the Mytilineos Group has been selected by PPC Renewables, a Public Power Corporation subsidiary, as the provisional contractor for a large photovoltaic project at Kozani, with a capacity of 200 megawatts.

The government and Public Power Corporation have high hopes for the revenues from the sale of a 49% stake in the Hellenic Electricity Distribution Network Operator (DEDDIE), launched by PPC in a tender last Tuesday.

The power market's new operating model has led to serious collateral damage in Public Power Corporation's hydroelectric reserves that may affect the water supply of Thessaloniki in northern Greece next summer.