PPC Stassis: Where the €10.1B Will Go and What It Will Deliver
PPC is entering one of the most ambitious phases in its modern history. With an investment plan of €10.1 billion for 2025–2028, the group aims to leverage its strategic geographic position, strengthen its presence in Southeast European energy networks, and consolidate its role as a key driver of the green and digital transition.
CEO Giorgos Stassis emphasizes a narrative based on proven achievement of targets, while also focusing on shareholder returns through dividends and a share buyback program.
The Investment Plan: €10.1B for RES, Flexible Generation, Grids, and New Markets
The plan reshapes PPC’s production and technological footprint:
1. €6B for RES and Flexible Generation (58% of total)
By 2028, the goal is 12.7 GW of capacity and 1.5 GW of storage. Key projects:
- Conversion of Ptolemaida V to CCGT
- New 840 MW unit in Komotini
- Pumped-storage and hydroelectric facilities These projects create a generation mix that absorbs European wholesale price volatility.
2. Grid Investments in Greece and Romania
Regulated Asset Base (RAB) targets €6.5B by 2028, ensuring ~7% stable returns. Network upgrades are crucial due to:
- Rapid RES deployment
- Electrification
- Growing data centers
- Need for “smart grids”
3. Vertical Integration and Telecommunications
FTTH deployment via the electricity infrastructure will cover 3.8M households by 2028, with 590,000 connections. Post-2030 EBITDA from telecoms is expected to exceed €100M.
The Kotsovolos integration allows PPC to offer full energy solutions: rooftop PV, heat pumps, e-mobility, and technical services.
Financing: Where the €10.1B Will Come From
PPC enters the investment cycle with:
- €4.3B liquidity (33% cash, 67% committed credit lines)
- Access to markets via green bonds
- Strong ESG rating “A” from MSCI
Funding Sources:
- €7B from operational cash flows
- €6B from new debt and financing instruments Net debt expected to peak at 3.5x EBITDA, before reducing to 2–3x, maintaining investment-grade ratings.
Targets 2025–2028: EBITDA, Net Profit, Dividends
- EBITDA €2.9B by 2028
- Net profit €0.9B
- Dividends €1.2/share Long-term EBITDA projected at €3.2B by 2030.
The market already anticipates 2025 EBITDA of ~€2B as realistic.
PPC’s New Energy Footprint: 16.6 GW by 2028
- Capacity 12.5 GW → 16.6 GW
- RES share 51% → 58%
- Full lignite phase-out by 2026
- Flexible generation 1.4 GW by 2028
- Storage 1.5 GW This mix provides hedging against volatility, stable regulated revenues, and low operational risk.
Risk Management: PPC’s Competitive Edge
- Vertically integrated model = natural hedge against volatility
- Production boosts profitability during high wholesale prices
- Retail absorbs RES output during low prices
- Regulated distribution >30% of EBITDA
- Flexible units exploit arbitrage and balancing markets
- Large customer base = stable internal RES consumption
Prudent liquidity management and strong credit ratings ensure stable cash flows in volatile energy markets.
PPC Leads Southeast Europe’s Energy Transition
The €10.1B investment plan transforms:
- Generation base
- Grids
- Technologies
- Retail operations
- PPC’s outward-facing strategy
With full lignite phase-out, strong RES and flexible capacity, grid upgrades in Greece and Romania, and telecom expansion, PPC positions itself as a resilient and forward-looking energy player, ready to capitalize on the opportunities of the energy transition.
Source: pagenews.gr