The planned upgrade of Greece’s lignite-dependent areas – an effort of unprecedented domestic ambition budgeted at 5 billion euros that includes emblematic projects such as a hydrogen-producing facility, the country’s first; major-scale telethermal units; a 155-km natural gas pipeline in the north; major-scale solar farms, including a 200-MW solar farm in Kozani being developed by Mytilineos for PPC Renewables; and the norther section of the E65 highway – will be presented at a cabinet meeting today.
A related draft bill includes provisions for the establishment of a special purpose vehicle for the overall effort, named Metavasi SA, meaning transition. The SPV will take over 16,400 hectares of power utility PPC’s lignite-related land, including fixed assets, except for property to be kept by the utility for its own green investments.
This transfer of 16,400 hectares represents 66 percent of PPC’s total land assets, currently measuring 24,700 hectares.
The Metavasi SPV will assume responsibility for the upgrade of the 16,400 hectares of land, currently hosting PPC lignite mines and lignite-fired power stations.