Public Power Corporation

Greece's biggest power utility, Public Power Corporation, will spend 3.4 billion euros to expand its footprint in renewables and modernize the country's distribution grid, it said on Wednesday.

Electric power 0company Public Power Corporation (PPC) is moving toward boosting energy production from renewable energy and ridding itself of its historical reliance on inefficient and highly polluting lignite, also known as brown coal.

Greece's biggest power utility Public Power Corporation (PPC) made a core profit in the first quarter of the year, helped by a drop in energy costs due to worldwide coronavirus lockdowns, it said on Tuesday. 

The process for the construction of the first photovoltaic park in Kozani, northwestern Greece, has entered the final stretch. Its capacity will be 15 megawatts and it forms part of a mega-project of 230 MW in the area.

The union of Public Power Corporation workers (GENOP/DEH) has happily accepted a proposal from the utility's management regarding redundancy incentives for employees with full pension rights working at the West Macedonia Lignite Center and the subsidiaries Meliti Lignite and Megalopoli Lignite that are being prepared for privatization.

Greece's biggest power utility Public Power Corporation (PPC) on Thursday posted a net loss of 1.68 billion euros for 2019 after it wrote down the value of its coal-fired plants.
PPC, which is 51 percent state-owned and plans to switch off all but one of its coal-fired plants by 2023, said the figure compared with a net loss of 903.8 million euros in 2018.

Public Power Corporation (PPC) is in close cooperation with Germany's RWE, one of the world's biggest companies in the renewable energy sources sector, both for the development of the ambitious plan the Greek utility has drafted for its expansion into RES and for the government's implementation of a decarbonization plan.

The transition from mineral fuels such as lignite to renewable energy sources is bringing new investors to Greece.

On Monday, Germany's RWE is set to sign a memorandum of understanding with Public Power Corporation (PPC) for the joint construction of RES projects in Greece.

Prime Minister Kyriakos Mitsotakis stressed the government's determination to phase out lignite plans as part of the National Plan for Energy and Climate at a meeting with Energy Minister Kostis Hatzidakis and ministry officials .

Prime Minister Kyriakos Mitsotakis was on Monday briefed on the National Plan for Energy and Climate by the Energy Ministry's leadership.