PPC, the public power corporation, has approved an application from subsidiary firm PPC Renewables for the construction of three new wind-energy parks with a total capacity of 150 MW in Rodopi, northeastern Greece, as well as a 7.5MW wind-energy facility in Crete.
Budgeted at 180 million euro, the three facilities in Rodopi will be located in the areas of Gerakas-Romvos-Alonitsra (54MW); Kandila-Kyrton (44MW); and Milia-Kapetanios-Livadokorfi (52MW).
According to PPC’s investment plan for Rodopi, a 60% proportion of the investment, or 108 million euro, will be financed by a bank loan. The remaining 40%, or 72 million euro, will be financed by equity capital from PPC Renewable, in the form of capital injection provided by PPC.
As for PPC’s capital injection, the plan is expected to be approved at a PPC Renewables shareholders meeting, when required, but not before relevant permits have been granted ahead of the project’s construction.
The wind-energy facility in Crete, to be located in the Sitia region, is budgeted at 9,002,700 euro. An option allowing for a 3.3MW-capacity increase, at an additional cost of 3.96 million euro, has been approved for this project.