President and CEO Giorgos Stassis presented the group’s results for the first quarter of the year to the analysts
The start of operation of the 50 megawatt photovoltaic park in Megalopolis and the completion of the construction of the 200 megawatt park in Ptolemaida was announced by the president and CEO of PPC Giorgos Stassis while presenting the group’s results for the first quarter of the year to analysts yesterday.
Thus, PPC’s RES units in operation increased to 376 megawatts from 326 at the end of 2022, while the potential of the company’s “green” units is expected to increase exponentially in the next period as they have entered the construction phase of – among others – the flagship power park 550 megawatts in Ptolemaida as well as the 3 parks with a total capacity of 940 megawatts in Amyntaio which are implemented in collaboration with the German RWE which has 51% of the joint venture. In summary:
-By the end of the year, PPC’s operating potential in RES will more than double from 376 to 814 megawatts with the addition of the 200 MW in Ptolemaida that were completed, 160 megawatts of photovoltaics in Western Macedonia and another 78 megawatts of wind.
-In a horizon of 6-18 months the power will rise to 1.9 gigawatts and in 2.5 years to 5.1 gigawatts.
As Mr. Stassis pointed out: “After achieving the goal of 600MW concerning projects in Greece, either in operation or built, the construction of the large 550MW Photovoltaic park in Ptolemaida began, with projects of a total capacity of 1 GW currently under construction. This is total capacity of 1.6 GW, which corresponds to about 30% of the 5GW target we have set for 2026”.
Mr. Stassis also announced the upgrade of the target for operating profits during this year to 1.2 billion euros, which will lead to a dividend distribution in 2024, while he estimated that the acquisition of ENEL’s activities in Romania will be closed in the third quarter of year.
According to the quarterly results announced yesterday, operating profits (EBITDA) amounted to 280 million euros this year, from 170 last year (a 65% increase), and pre-tax profits to 73.3 million against a loss of 30.3 million last year .
Source: Skai
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