Power utility PPC plans to develop waste-to-energy plants and also make RES investments in the Balkans worth two billion euros, a bulleting attached to the corporation’s ongoing equity capital raise, offering an update on the board’s strategic plan, has revealed.
The book building process, which began yesterday, will run until Thursday. Investors anticipate that PPC will enter new circular economy activities and also expand its green interests beyond Greece’s borders.
PPC expects to raise 1.35 billion euros through the equity capital raise, which will partially fund the corporation’s ambitious 5 billion-euro investment plan covering 2022 to 2024.
The power utility had initially announced a plan to enter the waste-to-energy sector in 2020 and is now reviving this part of its strategic plan.
This plan is in line with the overall national policy for waste management, developed in response to condemnation by European institutions of Greece for the country’s uncontrolled landfill management.
The power utility is expected to adopt advanced waste-to-energy technologies used in Europe’s north for the development of units making minimal environmental impact.
As for renewable energy, PPC has planned investments worth two billion euros between 2022 and 2026. Of this total, 820 million euros is planned to be invested between 2022 and 2024 and 1.11 billion euros from 2024 to 2026, according to the equity capital raise’s bulletin.
These sums are expected to be used for RES portfolio acquisitions. PPC is aiming for a green portfolio of 7.2 GW by 2024 to include extensive investments in the Balkans. Bulgaria and Romania are being targeted as markets of major potential.