Twelve European countries have, to date, fully withdrawn their coal-fired facilities, while a further seven, including Greece, have committed to do so by 2025.
A coal-free status in Greece is expected by 2025 as state-controlled power utility PPC has decided to convert its Ptolemaida V power station to a natural gas/hydrogen-run unit within the next four-and-a-half years, PPC’s chief executive Giorgos Stassis told analysts yesterday, during a presentation of the company’s 2020 results.
The Greek power utility is currently phasing out all other lignite-fired power stations and related mines until 2023.
Besides sparing PPC of certain losses, given an anticipated sharp rise in CO2 emission right costs, this course yet again reaffirms, to investors, PPC’s plan to transform into an eco-friendly corporation.
In addition, the prospect places PPC and Greece among the world’s fastest movers towards decarbonization.
Austria, Albania, Belgium, Cyprus, Estonia, Iceland, Latvia, Lithuania, Luxembourg, Malta, Sweden and Switzerland are all now carbon-free.
France is expected to be added to this list this year, Portugal and Slovakia anticipate their entries in 2023, the UK is seen turning carbon-free in 2024, while Greece, Hungary, Ireland and Italy are planned to join the carbon-free club in 2025.