G. Stassis: 9 billion PPC investments in the next five years

PPC’s investments will exceed 9 billion euros in the next five years, said the president and CEO of PPC George Stassis in a message to the conference on sustainability organized by Politico.

As he mentioned, the strategy for the transformation of PPC is based on three pillars: de-ligation – transition to Renewable Sources, digitization and customer-centric approach.

In this context, it is planned to withdraw 3.4 gigawatts of lignite power plants by 2025 and to increase the production capacity of RES to 7 gigawatts in 2024 and 9 gigawatts in 2026, from the current 3.4 gigawatts (including hydropower). . At the same time, by 2026, 1 gigawatt storage units will be put into operation.

“In order for the transition to be successful and to deal with the climate crisis, we need new technologies. But technological innovation is not enough, we also need clear signals in the markets and a transparent institutional framework,” Stassis said.

In this context, he noted that the role of the European Regulation on the classification of investments as environmentally sustainable (EU taxonomy) will be crucial, according to which economic activities that can be considered environmentally sustainable are characterized by specific criteria.

“The Regulation is not a framework for labeling investments as ‘good’ or ‘bad’ but it helps us all speak the same language and move in the same direction. It will increase the pressure on financial institutions to choose their activities. “, while it can make Europe a world leader in sustainable financing”, concluded Mr. Stassis.

Source: AMPE