The Public Power Corporation (PPC) presented in London its Strategic Plan for the three-year period 2024-2026, based on healthy economic growth, efficient investments inside and outside Greece, green transition, customer-centric philosophy, technology and partnerships, with the view to becoming a leading player in clean energy, critical infrastructure and services in Southeastern Europe.
Building on the solid foundations that have been created over the last years, despite successive crises and the unstable environment, PPC Group is moving forward dynamically with its transformation and setting high goals for the next three years.
Between 2024 and 2026, PPC aims to:
- Increase the installed capacity by 18%, on an annual basis, despite the withdrawal of all lignite units by 2026.
- Increase the installed capacity from RES which will constitute more than 2/3 of the total installed capacity in 2026 and proceed to investments in energy storage stations. PPC Group aims to have 8.9 GW of installed capacity from RES in 2026.
- Total investments of 9 billion euros in the three-year period, mainly in RES, network upgrades and new activities, increased by 130% compared to the three-year period 2021-2023, which will be financed mainly by the Group’s operating cash flows and borrowing. A percentage of 80% has already been secured.
- Expansion into Southeast Europe, through the energy corridor being created.
- Entry into new markets, such as fiber optic networks, and further development of new activities already started, such as electrification.
- Sustainable development with a 74% reduction in CO2 emission intensity (Scope 1 and 2, 3 (cat.3)) and a 42% reduction in Scope 3 emissions in 2030 compared to 2021, as well as a net zero carbon footprint target (Net Zero) by 2040.
- Having reached the EBITDA target of 1.5 billion euros two years earlier than the previous Strategic Plan, the Group aims for higher EBITDA by 15% on an annual basis in the next few years. Group EBITDA is expected to reach 2.3 billion euros in 2026 (a 35% increase compared to the 1.7 billion euros previously targeted for 2026). For 2030, PPC Group aims for approximately 3-billion-euro EBITDA.
- Returning to a dividend policy after almost 10 years, with dividend distribution every year starting at 35% of net profits and up to 55%.
The president and CEO of PPC Group, George Stassis, commented: “The new PPC Group that we envision is internationalized, developmental, healthy, customer-centric and modern to create sustainable value for all stakeholders. The three-year period 2024-2026 will be a period of investments, amounting to 9 billion euros, which will create value for the group and goodwill for customers, shareholders, employees and the environment, in all the countries where we operate.”
