Mitsotakis: Record Investment Interest for PPC

November 5, 2021

ATHENS – “Record investment interest in the reborn PPC! The increase of its share capital from 750 million euros jumped to 1.3 billion euros. And the price of its share exceeded 9 euros. All this when the company we received was on the verge of bankruptcy. With losses of 2.0 billion and the value of its share approaching zero. And yet, a systemic risk for the national economy, within two years, became a springboard for its development,” Prime Minister Kyriakos Mitsotakis said on Friday in a post on Facebook for the completion of the share capital increase of PPC.

He also pointed out that “the new PPC, with the state maintaining its control, is made stronger. So that it can protect consumers from fluctuations in electricity prices. More modern. In order to offer them better services. But also more decisive. To become a protagonist in the new era, with investments of 3 billion euros in Renewable Energy Sources in the next three years. It is a strong public enterprise of a strong national economy and a strong Greece that we are building!”

Meanwhile, Mitsotakis is visiting the island of Halki to inaugurate the GR-eco project that provides lower electricity bills, a reduction of environmental pollution and an energy and telecommunications infrastructure upgrade.

The benefit is estimated at a total of 180,000-250,000 euros per year, while “green” energy from photovoltaics replaces electricity production using oil from the Rhodes power plants, resulting in a reduction of carbon dioxide emissions by 1,800 tons per year.

The inaugurated projects were agreed in a memorandum of cooperation signed last July at the Environment and Energy Ministry with the companies participating in the project. The Public Power Corporation (PPC) covered the cost of equipment for the construction of the photovoltaic station and installed four charging systems for PPC blue electric vehicles on the island. Akuo Energy and Omexom / Vinci Energies were responsible for licensing, developing and constructing the photovoltaic park.

The event will be attended by Environment and Energy Minister Costas Skrekas, the Secretary General of Energy and Mineral Resources Alexandra Sdoukou, the Ambassador of France to Greece, Patrick Maisonnave and other officials.


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