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

Related Articles

Faria Renewables secures financing 49 9 MW battery project Greece

Faria Renewables secures financing for 49.9 MW battery project in Greece

24 July 2025 - Faria Renewables has signed a loan agreement with Attica Bank for the construction of a BESS facility in Greece

north macedonia kazanci memorandum gas power plant mickoski Cemil Kazancı

North Macedonia, Kazancı sign memorandum on gas power plants

23 July 2025 - The memorandum of understanding was signed by Prime Minister Hristijan Mickoski and Cemil Kazancı, President of the Board of Directors of Kazancı Holding

romania bess battery Nova Power & Gas gas power plant

Nova Power & Gas to install 200 MW BESS in Romania

23 July 2025 - Romanian company Nova Power & Gas is also beginning the construction of a 150 MW gas power plant in Florești, of 150 MW.

IRENA 91 percent new renewables units more cost effective than fossil fuel alternatives

IRENA: 91% of new renewables units are more cost-effective than fossil fuel alternatives

23 July 2025 - Renewables maintained their cost leadership in global power markets, the International Renewable Energy Agency said in an annual report