PPC Renewables, a subsidiary of state power firm PPC, is proceeding fast with its renewable energy power plants. It is on pace to exceed a capacity of 250 megawatts by the second quarter of 2021, half the target announced by its new management last year for a period of three years.
To implement its five-year-plan to build renewables capacity to 1.5 GW, PPC has signed memoranda of understanding (MOUs) with well-known international firms in the sector, such as Germany’s RWE, Spain’s EDP Renewables and a joint renewables venture of Abu Dhabi’s Masdar and Finland’s Taaleri. PPC Renewables is also in talks with Greek groups for joint ventures in building the plants.
PPC Renewables has licenses to build plants with a total capacity of 6 GW, including 2 GW in the area of Kozani; for this latter project, it has already signed a MOU with RWE.