The importance of investments in Renewable Energy Sources, storage units and energy networks for energy security was mentioned by PPC Group’s Deputy CEO of RES, Mr. Konstantinos Mavros at the 28th annual “Economist Government Roundtable” conference held in Athens between July 2 and 4 .

Speaking with Daniel Franklin, executive editor of the Economist, Mr. Mavros referred to the issues affecting energy security in the Southeast Europe region, as well as the PPC group’s strategy in the wider region.

Factors that can affect energy security

As mentioned during the discussion, the factors that can affect energy security are multiple and include the most obvious, such as geopolitical instability and the supply chain, but also others, such as cyber security, extreme weather events, lack of interconnections, access in raw materials, politics, etc.

As pointed out by Mr. Konstantinos Mavros, who is also the CEO of PPC Renewables, PPC’s 100% subsidiary for the development of RES in Greece and abroad, all the above factors can have an impact on the energy sector both in terms of availability of energy as well as prices, as well as dependence on specific sources or countries.

Green technologies and other solutions to ensure energy security

The head of RES of PPC Group pointed to green technologies as the means to ensure energy security. “In Greece, we are advancing rapidly in the green transition, we are among the 5 countries with the fastest renewable energy development,” he emphasized. However, investments in RES must also be followed by investments in storage units to cover the “gap” between the times when the RES produce energy and the times when there is the greatest demand.

They are also necessary investments in energy networks as on the one hand the production of energy is no longer done in a few large units but in tens of thousands of points distant from each other, and on the other hand because different geographical areas have different times when they achieve their greatest production from RES. Special reference was also made to the recent study “Grids for Speed” by Eurelectric, according to which the requirements for investments in electricity networks will reach up to €67 billion per year between 2025 and 2050, almost double the current period.

The large dispersion and unstable production of renewable energy sources also makes them necessary investments in digitization of networks to manage the new data. As it was emphasized, in the coming years, huge investments will be needed throughout the energy chain to advance the green transition, which, however, will have two very important results, the protection of the environment and energy security.

Strategy of PPC Group for the development of RES in Greece

Mr. Mavros described PPC Group’s strategy for the development of RES in Greece and the region of Southeast Europe, which can become a strategic advantage for the wider region. “Greece is at an energy crossroads and is becoming a local superpower of the energy transition in the region of Southeast Europe,” Mr. Mavros emphasized.

The management’s goal is for PPC Group to become an energy leader in Southeast Europe and an important player in the wider region. PPC aims to exploit the potential for value creation between countries, through the energy corridor that is being created. With its presence in different geographical areas, with an expanded and complementary RES portfolio, PPC Group intends to take advantage of the different meteorological conditions in each region.

With the acquisition of Enel’s activities in Romania as its first major move, the PPC Group went outside the Greek borders. PPC Romania, as PPC’s operations in Romania are now called, is one of the country’s most important energy players. Already, PPC Group is moving forward dynamically with the creation of a RES portfolio in the wider region, from Italy and Croatia to Romania and Bulgaria.

In closing, the PPC Group’s Deputy CEO of RES emphasized that it is extremely important for citizens to understand that the green transition is a one-way street. As he said, “right now, green kilowatt-hours are the cheapest kilowatt-hours we can produce. It takes constant work to explain to people that this is the only way forward.”