Greek PPC: Full steam ahead for the 1 GW target in RES

Earlier, PPC achieves the goal of commissioning 1 GW (Gigawatt) Renewable Energy Sources (RES) projects.

The positive outcome of the negotiations for the acquisition of Enel’s assets in Romania and the completion of two large photovoltaic parks in Ptolemaida will bring the public company much closer than originally planned to the creation of a portfolio of 1 GW RES projects in operation.

Enel

By the end of January, PPC will have completed negotiations with the Italian Enel for the acquisition of its assets in Romania. Among them are 13 wind farms with a capacity of 534 MW.

If the discussions have a positive result, then PPC’s green energy will almost quadruple and from the 280 MW it currently has, it will jump to 814 MW. In the strategic planning of the company, the increase to 1.5 GW of operational RES projects (wind and photovoltaic) was foreseen in 18 months. This goal comes earlier and is likely to be achieved in the first half of 2023.

Ptolemais and Megalopolis

The acquisition in Romania, as mentioned above, is the accelerator to reach the 1 GW target much faster.

This threshold, however, is approached by PPC with the completion of two large photovoltaic parks in Ptolemaida and Megalopolis, respectively. The 200 MW photovoltaic park in Ptolemaida (Solar Arrow I) and the 50 MW one in Megalopolis (Arkadikos Helios I-II) will be ready to operate in the company’s lignite mining areas within the first half of 2023.

Thus, PPC adds another 250 MW to its quiver of green power. Together with the acquisition of 534 MW in Romania, it adds to the current RES of 280 MW of projects in operation with a capacity of 784 MW. Cumulatively in a six-month period, the company crosses the 1 GW barrier. In fact, it will have a portfolio of RES projects in operation with a total capacity of 1,034 MW.

The map

As can be seen from the map published by OT, PPC has RES projects with a total capacity of 5.9 GW in various phases of development.

The company through its subsidiary “PPC Renewables” intends to have a portfolio of projects with a total capacity of 5.1 GW in 30 months.

Of the 5.9 GW project pipeline, 4.6 GW have secured licensing and are soon to be built. More specifically, of the 4.6 GW, 1.7 GW projects have environmental permits and are awaiting connection conditions. The remaining 2.2 GW have received terms of connection to the electricity distribution network.