Bad moves by PPC Renewables in the past have limited the company’s RES market share to just 3 percent, Manolis Panagiotakis, chief executive at parent company PPC, the main power utility, has pointed out.
A recently appointed new board at PPC Renewables appears determined to rectify the firm’s faults committed in the past and establish better prospects for the subsidiary.
As was recently reported by energypress, the fresh PPC Renewables board aims to triple the renewable energy firm’s installed capacity over the next three years.
A business plan is currently being worked on to establish a strategic objective that may elevate PPC Renewables as a key player, if not the market leader, in Greece’s RES market, PPC’s chief executive Manolis Panagiotakis recently told Greek Parliament, while stressing the energy sub-sector’s future prospects.
The development of geothermal technology is expected to play a pivotal role, the PPC boss noted, while also pointing out the major prospects in this field for the Cyclades islands and, possibly, further south.
The energy supply model in the region promises to be reshaped, Panagiotakis noted, adding that geothermal technology, combined with other measures, could end the region’s high-cost dependence on fuel, diesel and mazut for electricity generation.
The PPC boss pointed out the utility’s unsuccessful investment of 62 million euros on geothermal technology research in previous decades, while adding that, despite the setback, he remains optimistic on the domain’s prospects for the Cyclades and possibly beyond.
Major foreign corporations, including Enel, Ormat and Mitsubishi, have expressed an interest in helping develop the country’s geothermal energy potential.