PPC Renewables readies to develop 700 MW in RES capacity
PPC Renewables, a wholly-owned green energy subsidiary of Public Power Corporation, the main power utility in Greece, is ready to develop 700 MW in renewable energy sources (RES) capacity, mostly in the wind and photovoltaic energy fields.
While waiting for the upcoming auctions in renewable, scheduled for April in Greece, PPC Renewables has announced that it will start with 18 wind and small hydropower projects totaling 90 MW. The EUR 114 million budget for these projects is provided by the European Investment Bank (EIB) a few weeks ago.
PPC Renewables says on its website that it wants to become a leader in Greece in the field of renewable energy. At present it has 20 wind farms, 17 small hydropower plants and 28 photovoltaic plants with a total installed power of 153 MW. Its portfolio of wind and photovoltaic projects in various parts of Greece, includes 30 MW in Karditsa, 10 MW in Kefalonia and 4.5 MW in Tinos.
The green subsidiary of PPC is also considering buying stakes in local existing licenses as well as the ones abroad. In the foreign markets, the PPC Renewables is looking for 1 and 2 MW projects. There is also an interest in investments in a total of 244 MW wind, geothermal and biomass sector, the projects that should be completed by 2020, Energy Press writes.
Geothermal facilities are also a point of interest for PPC Renewables – there is an ongoing tender, looking for a partner in Milos, Lesvos, Kimolos and couple more islands.
According to PPC Renewable website, the renewable energy generation across Greek islands and on the mainland of the country has been strengthened under an investment program by PPC Renewables backed by the EUR 85 million European Investment Bank (EIB) loan signed at the end of 2017. The loan will support both the repowering of wind parks and small hydropower stations and construction of new hydropower plants and wind parks across the country.