The CEO of PPC Renewables, Konstantinos Mavros, pointed to the energy transition and the expansion of climate diplomacy as tools for strengthening the competitiveness of the European economy.

As global energy demand is expected to increase in the coming decades, due to data centers, AI, electrification (e-mobility, heat pumps), the fight for the development and expansion of renewable energy sources (RES) will be critical to ensure a sustainable and fair future, pointed out Mr. Black, speaking at the Green Transition Forum, in the context of COP29, in Baku.

Europe, noted Mr. Mavros, is at a critical crossroads in its quest to become the first climate-neutral continent by 2050. The EU’s Green Deal, the Fit for 55 package and its ambitious renewable energy targets are helping to steer the continent towards a clean future. energy. However, significant obstacles remain, in particular regarding the integration of new generation from RES, the management of aging electricity networks, the assurance of energy security and the implementation of the energy transition in a fair and inclusive framework for all regions and communities of the EU. “Europe is setting the pace globally for renewables, but we must be mindful of the challenges that come with such an ambitious transformation. As we strive for zero emissions by 2050, Europe needs to invest not only in wind and solar energy and energy storage units, but also in infrastructure and technology that will ensure that the energy transition becomes stable, secure and fair,” pointed out Mr. Black.

Mr. Mavros particularly emphasized the role of Southeast Europe – a region where PPC Group invests strongly in RES – in the European strategy regarding the transition from carbon. Southeastern Europe has historically depended on coal for energy production, however, increasing investment in renewables has begun to reshape the energy landscape. Greece, in particular, is leading the way with RES representing 57% of its energy mix in the year 2023, marking a historic milestone. “Southeastern Europe plays a pivotal role in Europe’s energy transition. With abundant renewable resources, the region has the potential to drive Europe’s clean energy future. We must, however, ensure that the region’s RES projects are integrated into a modern, flexible energy grid, one that can effectively manage the growing share of RES in interconnected markets.”