PPC group investments up 15.1% in 2016 to €868m

Investments made last year by the main power utility PPC corporate group – including PPC Renewables and the IPTO and HEDNO operators – increased by 15.1 percent to 867.6 million euros, from 753.6 million euros in 2015, a key reason being the emphasis placed on mine-related operations, including compensation amounts granted to residents of Pontokomi in the Kozani prefecture, northern Greece, for their town’s required relocation.

The parent company, not including PPC Renewables and the IPTO and HEDNO operators, invested 739 million euros. This included 225.7 million euros invested in mines, 324 million in production, 182 million euros for the distribution network and 2.8 million euros for a new billing-customer service system.

The parent company’s investments rose by 19.74 percent, or 121.7 million euros, compared to 2015.

Investments at PPC Renewables reached 1.26 million euros in 2016. IPTO invested a total of 123.8 million euros last year and HEDNO 3.7 million euros.