Greece's incumbent utility, the Public Power Corporation (PPC) has announced a target for new solar PV projects. The move, while justified, may come too late to save the PPC, which is trying to reduce its reliance on lignite and avoid bankruptcy.Things do change after all. In the case of Greece's PPC utility, which owns 13 GW of electricity generation facilities (about 64% of Greece's installed capacity), the majority of which are coal plants, the recent change in investment strategy has arrived rather late, and is widely viewed as the result of tectonic policy changes that are currently taking place within Greece's electricity sector.
The PPC established in 2006 the PPC Renewables, a wholly-owned subsidiary, aiming renewable power investments. To date, PPC Renewables owns a mere 153 MW of installed renewable energy capacity, of which 1.32 MW comes from solar PV plants. Private investors, in contrast, have installed 2.6 GW of PV capacity in Greece.
To the target
PPC Renewables' CEO Ilias Monacholias told pv magazine that the company now targets large-scale PV plants in Greece in cooperation with other investors but also using vendor funding. "The total capacity of the PV plants we have under development is more than 550 MW," Monacholias said.
PPC's CEO Manolis Panagiotakis told the company's shareholders in the beginning of July that the PPC is making a "dynamic shift towards the development of renewable energies by overcoming ...Den vollständigen Artikel lesen ...