PPC approves $243 million wind investment in Greece

Public Power Corp., Greece’s biggest electricity provider, approved a 180 million euro ($243 million) investment for wind projects in the north of the country and a tender for a smaller facility in Crete.

The decision enables Greece’s energy regulator to start evaluating applications for power-generation licenses for 150 megawatts of capacity in Rodopi, PPC said in a statement. The company plans to cover 40 percent of the investment on its own and seek financing for the rest.

The investment will almost double the company’s installed wind capacity of 81 megawatts. Wind farms with about 1,700 megawatts operated in Greece at the end of last year, according to Bloomberg New Energy Finance.

PPC also approved the construction of a 7.5-megawatt wind farm in Crete along with a potential 3.3-megawatt expansion for almost 13 million euros. It will start an international tender to award the project. [Bloomberg]