x

Economy

PPC to Double Power Capacity from Wind and Solar within 2022

ATHENS – The Public Power Corporation (PPC) will double electricity production from renewable energy sources within 2022, according to the plans for an increase of installed wind and solar capacity to 489 MW from the current 239 MW, presented by PPC CEO Giorgos Stassis.

In a presentation on Thursday, Stassis said that a 200-MW unit will be added in Ptolemaida and a 50-MW unit in Megalopoli, both due to be completed within six months, while other wind and solar units that are under construction will add a further 100 MW by the end of 2023. Permits held by the PPC in various stages of completion amount to 5.9 GW in total, of which 4.7 GW are solar and 1 GW are storage units. He said that 80 pct of the target for renewables in 2026 had been covered, while possible buyouts in the sector are being considered.

The figures revealed a significant acceleration of investments in networks to receive new RES, with the number of units in operation more than doubling in the first quarter of 2022 relative to the previous year, while the capacity of the new units was up 62 pct.

PPC on Thursday announced first quarter EBITDA profits of 170 million euros, down from 226 million euros in the first quarter of 2021, saying that the aim was to maintain the same levels of operating profitability as in 2021, despite the energy crisis and higher costs this entails.

It said spending to support customers with discounts reached 360 million euros.

RELATED

ATHENS – After vowing to keep out refugees and migrants – and denying reports of pushing them back – Greece's New Democracy government is going to extend a fence along the northern border with Turkey by the Evros River.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.