PPC to Invest €5.75 Billion in Renewable Energy and Data Center in Former Coal Regions of Greece
PPC is set to invest €5.75 billion over the next three to five years to develop former lignite mining areas in Greece into a renewable energy and technology hub, including Europe's largest photovoltaic complex with a capacity of 3.15 GW and a data center with a potential 1,000 MW capacity. This initiative aligns with the Greek government's efforts to reduce lignite's share in electricity generation from 32% in 2019 to about 5% today, as the country transitions away from coal. Additionally, PPC is allocating €940 million for energy storage solutions, enhancing its commitment to sustainable energy.
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PPC plans to invest €5.75 billion over the next three to five years to transform former lignite mining areas into a green energy and technology hub in Greece and Southeast Europe. The company is constructing Europe’s largest photovoltaic complex with a capacity of 3.15 GW at these sites and is also planning a data center at a former power plant location, which could have a capacity of 1,000 MW.
The Greek government has significantly reduced the share of lignite in electricity generation from 32% in 2019 to about 5% today. The Agios Dimitrios power plant is set to close by the end of May 2025, followed by the last operational coal plant, Ptolemaida V, which will be converted to gas and hydrogen by 2027.
Additionally, PPC is investing €940 million in energy storage solutions, including pumped storage plants and batteries totaling 1,160 MW. The collaboration with RWE through the joint venture Meton Energy S.A. has already led to the completion of nine solar parks with a combined capacity of 940 MW.
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