Renewables

Greek PPC unveils EUR 5 billion plan for data centers

Greek PPC unveils EUR 5 billion plan for data centers

Photo: PPC

Published

March 27, 2025

Country

Comments

comments icon

0

Share

Published:

March 27, 2025

Country:

Comments:

comments icon

0

Share

Greek state-controlled utility Public Power Corp. (PPC) aims to become a major player in the rising data center and artificial intelligence market.

PPC (or, in Greek, Admie), announced its 2024 annual results. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 41% to EUR 1.8 billion, while renewable energy capacity reached 6.2 GW. At the same time, green projects with a total capacity of 3.7 GW are at a mature level of development.

“We have raised our investments to EUR 3 billion with a focus on renewable energy, in order to become a leading powertech group,” said chairman and CEO George Stassis.

First data center to have 300 MW in capacity

PPC’s management also unveiled a grand plan to develop data centers in its former lignite mines in Western Macedonia. It is a EUR 5 billion project that envisages the installation of a large data center of 300 MW as a first step. If conditions are favorable, it could be upgraded to 1 GW.

The group has variuos other energy investments planned in its depleted open pit lignite mines. It aims to put an end to coal use by 2026, as the last plant, Ptolemaida 5, would be subsequently converted to a natural gas facility with a capacity of 350 MW. The new asset would also be able to burn hydrogen, the company said.

Furthermore, PPC is developing 1.3 GW of photovoltaics in the mines of Amyndaio and Ptolemaida, as well as 300 MW of battery energy storage systems, plus two pumped storage hydropower projects of 320 MW and 240 MW, respectively.

The new units would supply the data centers, with PPC positioning itself on both ends of the value chain to maximize profits.

PPC is in talks with potential partners for its first data center, Stassis added. The cost per megawatt is estimated at EUR 7 million to EUR 8 million, which is lower than in other European regions, he claimed.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

bih republic of srpska hydropower plants bistrica tunnels petar djokic

Three hydropower plants on Bistrica river to be finished by end-2026

18 April 2025 - Chinese company AVIC is in charge of building the three hydropower plants on the Bistrica, with a total capacity of 39 MW

albania france kesh afd drin hydropower energy storage

Albania’s KESH, France’s AFD sign MoU on hydropower management, energy storage 

18 April 2025 - KESH and Agence Française de Développement have signed an MoU on the Drin cascade management and advanced energy storage planning

bih federation ephzhb court poklecani urban permit arhaus

Supreme Court of Federation of BiH annulls urban permit for Poklečani wind farm

17 April 2025 - The project is being developed by Elektroprivreda HZHB, one of the three state-owned power utilities in Bosnia and Herzegovina

Minister Admir Sahmanović formally assumes energy, mining portfolio in Montenegro

Minister Admir Šahmanović formally assumes energy, mining portfolio in Montenegro

17 April 2025 - Minister of Energy and Mining of Montenegro Admir Šahmanović was formally voted in as the two ministries that he ran were merged