Power utility PPC’s company plans are being adjusted on a daily basis as a result of changing market conditions in the energy crisis, but the corporation’s liquidity, at 3.6 billion euros – 2.197 billion euros in cash reserves and 1.444 billion euros in secured credit availability – stands as a protective weapon amid the uncertainty, chief executive Giorgos Stassis has told analysts during a presentation of PPC’s second-quarter results.

PPC’s net debt on June 30, 2022 was 2.245 billion euros, while PPC faces expiring debt payments worth 220 million euros in 2022, 543 million euros in 2023, and 1.015 billion euros in 2024, for which payment deadlines of 600 million euros can be extended by a year, Stassis informed.

The majority of PPC’s debt, 67 percent, has fixed interest rate terms, while 33 percent of the company’s borrowing is ESG-linked, the chief executive added.

PPC’s new Ptolemaida V power station, to be launched as a lignite-fired power station before eventually converting to natural gas, is expected to undergo a trial run in October, ahead of a scheduled launch in January, Stassis noted.

PPC is pushing ahead with investments in renewable energy, the company’s portfolio of RES facilities under construction or ready to undergo construction at 394 MW, the chief executive informed, adding that RES projects representing a further 4 GW are practically assured.

Company news concerning acquisitions is soon expected from Romania, possibly within the next few months, the chief executive noted.