Power utility PPC is preparing to offer solar farm-project bonds with yields of 6 to 7 percent to residents of the lignite-dependent west Macedonia and Megalopoli regions, exclusively, where major-scale solar farms are planned as part of the utility’s decarbonization and economic transformation of the two areas.

The company aims to offer two sets of bonds representing 5 percent of its solar farm investments in these areas.

The issues will effectively offer residents a share of the economic growth potential of the west Macedonia and Megalopoli regions.

The lignite-related activity of the two regions has contributed significantly to the country’s GDP over the past six decades.

PPC plans to issue the two sets of bonds as soon as it has received finalized licenses for these solar farm projects.

The power utility has submitted licensing applications for a total capacity of 2.9 GW in both areas.

Assuming PPC is granted a 2-GW license for its west Macedonia project and construction costs average 700,000 euros per MW, the investment cost, for this project, would total 1.4 billion euros, meaning that a 5 percent share for residents would result in bonds worth a sum of 70 million euros.

A similar procedure would be implemented for PPC’s Megalopoli solar farm project, planned to offer a 500-MW capacity.

PPC wants to break up both issues into bonds worth 1,000 euros each so that they can be distributed to as many residents as possible.