PPC Invests in Renewable Energies
With a vision to transform itself into an economically and environmentally sustainable, modern, digital company, PPC accelerates the decarbonization process by investing significantly in the development of Renewable Energy Sources projects. At the same time, it invests in sustainable mobility, offers consumers green energy-saving products, and strengthens awareness and information activities, supporting the protection of the natural environment.
Important Steps Towards the "Green" Transition
Aiming to become a leading clean energy company in Southeastern Europe, PPC is rapidly implementing its commitments and transforming itself into a "green" group. Specifically,:
It reduced direct CO2 emissions from lignite-fired power plants by 74% from 16.9 million tonnes in 2019 to 4.4 million tonnes in 2023. It should be noted that generation from lignite further decreased by 27% in the first quarter of 2024 compared to the same period in 2023.
It increased renewable energy generation by 39% compared to 2019, while increasing total installed renewable energy capacity by 1.3GW, from 3.3GW in 2019 to 4.6GW in 2023.
It completed the acquisition of the operations of Enel Romania, a key player in the Romanian energy market with a total installed capacity of 600 MW exclusively from RES and with an additional 5 GW of RES in the pipeline. PPC Romania, as the company's new name now stands, has wind farms in the areas with the best wind potential in the country as well as state-of-the-art photovoltaic parks.
It undertook the financing and implementation of flood control interventions of burnt land in Parnitha, an investment of €2.5 million.
It contributes to the acceleration of e-mobility in the country through the PPC blue brand, fully responding to its commitment to sustainable development and environmental protection. The PPC blue network of public chargers is constantly growing and has now exceeded 2,200 charging points nationwide which are powered by RES.
It adheres to its environmental commitments and cooperates with Non-Profit Organizations, participating in a series of actions aimed at protecting the environment and reducing pollution. The #projectposeidon is the most recent partnership between the PPC Group and Enaleia for the clean-up of the polluted area around Sounion and Lavrio from plastics and abandoned fishing nets, during which more than 25,000 kg of waste was collected, mainly from the seabed.
It participates in international initiatives and commitments such as the Science Based Targets Network (SBTN) and the Science Based Targets initiative (SBTi), taking part in the global effort to protect nature and biodiversity, and to limit global warming with science-based criteria. It also participates in the international Business for Nature alliance, which aims to jointly address nature and climate crises, and has recently joined together with major international groups the Biodiversity Alliance for Sustainable Management initiative, which aims to strengthen the protection of biodiversity by integrating nature-centred approaches into business strategy and operations.
It is upgraded by accredited international non-governmental organizations on climate change mitigation and adaptation issues, such as the upgrade from "D-" to "B-" by CDP as a result of the implementation of the Group's lignite plant withdrawal and renewable energy development strategy as well as its commitments to zero greenhouse gas emissions by 2040 (Net Zero).
It continues to invest and offer green energy products and services to its customers, such as the GreenPass service, which guarantees that an equivalent amount of the electricity they consume at home is reserved for them from renewable production. In addition, it offers the PPC myenergy Solar solutions for photovoltaics at home and the PPC myEnergy HeatPump, the most efficient and cost-effective heat pump heating system.
It invests in the continuous training and development of its employees, providing access to modern training programs by creating innovative practices that are fully aligned with the green transformation of the PPC Group. The first Sustainability Masterclass, which was held recently, is a typical example of the Group's actions to train its executives in climate change mitigation and biodiversity protection.
Finally, it contributes with a series of actions to the achievement of the 17 UN Sustainable Development Goals, which focus on the protection of nature and the environment. (SDG12, SDG13, SDG14, SDG15).
Ambitious Green Targets
Aiming for zero CO2 emissions by 2040 (Net Zero), PPC Group's management presented its three-year business plan at the Capital Markets Day 2024 in London. At the core of the Group's strategy for the period 2024-2026 is the shift towards renewables, with investments of €9 billion, mainly in green energy and the upgrading of distribution networks, both in Greece and in South Eastern Europe.
The PPC Group has set a target to double the installed RES capacity to 8.9 GW by 2026, with RES accounting for 68% of the company's total capacity. At the same time, the PPC Group's total installed capacity will increase to 13.1 GW, despite the withdrawal of 2.8 GW of lignite, natural gas and oil-fired plants. In fact, lignite-based power generation will be zero by 2026. In 2030, the installed capacity of the PPC Group is expected to reach 17 GW, of which 75% will come from clean energy sources.
With these investments, PPC aims to reduce its direct CO2 emissions by 75% by 2026, compared to 2019, making energy production greener.
With strategic investments and partnerships in RES, PPC Group promotes the energy transition in Greece and in the wider SE Europe, aiming to create shared value (CSV) for the Company, Society and the Environment in line with the Group's sustainable development strategy.
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