PPC plans to issue two bonds totaling 80 to 100 million euros in order to distribute to residents of the lignite mining areas a share of the photovoltaic parks with a total capacity of 2.5 to 3 GW that it is going to develop.
According to information from “OT.gr” the financial tool announced yesterday by PPC, for the participation of the citizens of Western Macedonia and Megalopolis in the 1.8 billion euro investments, but also the tempting returns that the production of electricity from the sun will offer, these are two bonds with a total value of 80 to 100 million euros.
The first bond, according to sources of “OT.gr”, will be addressed to the residents of Western Macedonia where photovoltaic investments 2 to 2.5 GW will run and the second to locals in Megalopolis where solar parks of 500 MW will be constructed. Given that the amount of total investment is estimated at around 1.8 billion euros, the participation (share) 5% that PPC promised to give to citizens of the lignite mining areas in the projects corresponds to approximately 80,000 to 100,000 bonds. Sources want the minimum participation amount to be valued at 1,000 euros and their distribution will be undertaken in a proportional manner, so that even if all residents participate, no one will be left out.
According to market players, the returns of RES and specifically of photovoltaics are estimated annually at 6 to 7% on the invested funds.
These are yields higher than those of Real Estate (4 to 5%) but also of savings accounts.
The decision of PPC management is in line with the goals of investments in green energy, which means sustainable development. The president and CEO of the company George Stassis during yesterday’s statements spoke about the implementation of the strategy of Creating Shared Value giving the opportunity to the residents of the lignite mining areas to participate in PPC’s and their region’s future development.
The public company has already received positive feedback as well as incentives from the local community and environmental organizations to implement this strategy. Sources comment on the importance of this move on the part of the public enterprise: “The faster the above-mentioned projects run, the faster the residents of Western Macedonia and Megalopolis will gain a share in these investments and will benefit from the return on their capital.” .
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