Public Power Corp wants to significantly expand its participation in power generating through renewable energy sources, Greek daily Kathimerini reported.
To promote its plan, which includes the building of installations generating 1,640 megawatts of electricity by 2014, by investing EUR1.6 billion, PPC will restructure its subsidiary, PPC Renewable Energy Sources SA.
Besides, the subsidiary, PPC now has departments dealing separately with renewable energy sources, such as the Directorate for Alternative Energies (DEME), through which it first ventured into wind power in 1982. PPC’s board is set to approve in the coming days DEME’s integration into PPC Renewable Energy Sources. DEME’s assets were valued at EUR120 million about 1% of PPC’s total.
PPC wants to achieve a 23% share in the renewable energy source production market by 2014. To this end, it is already looking into joint ventures with domestic or foreign companies.