Power utility PPC is ideally positioned to lead the energy transition in southeast Europe, despite complexities in the Balkans ranging from political stability to war, Giorgos Stassis, CEO at PPC, has told the annual conference of the Center for Strategic and International Studies (CSIS), in Washington, D.C., an event for which he was a keynote speaker.
The annual CSIS conference, specializing in international strategy and security issues, also featured Jeffrey Pyatt, US Under Secretary of State for Energy, as a main speaker.
Renewables have a major role to play in “ensuring that we have a planet where we can all live without compromising access to affordable energy,” Stassis, the PPC chief, told the event, adding that, besides offering clean energy, renewable energy also bolsters energy security.
However, there are limits to how far a country can go by relying solely on domestic renewable energy production, Stassis underlined. “Energy systems need to be flexible to ensure stability, reliability and cost-effectiveness. Flexibility is provided by energy assets such as batteries and gas-based power plants, as well as crucial infrastructure, including resilient electricity grids and interconnections between countries,” the PPC boss continued.
Energy market conditions in the Balkans differ greatly from country to country, Stassis pointed out. Romania, for example, relies little on natural gas imports, whereas Bulgaria is very dependent, he explained. Also, some Balkan countries, such as Greece, have made great progress in terms of energy transition, while others, especially in the western Balkans, lag behind, he added.