The strategic plans of Greece’s state-owned electricity company PPC include expansion in Bulgaria and the wider region, where the Group aims to have an installed capacity of 1.1 GW by 2030, writes Proto Thema.

PPC development opportunities in the energy market in Southeast Europe, with an emphasis on acquisitions in Romania (already completed), as well as acquisitions in Bulgaria (under analysis) and energy corridors that will be developed through the modernization of the interconnection between the countries of the region is central to PPC’s new business plan, presented last week by the company’s chairman and chief executive, Georgios Stasis, to a large number of analysts in London.

According to the new business plan, “besides a crucial role in Greece and a strong presence in Romania, the strategic planning also envisages expansion in Bulgaria and/or the wider region, where the Group aims to have an installed capacity of 1.1 GW by 2030. “.

It should be noted that PPC ranks first in the production, distribution and supply of electricity in the Greek market, while in

Romania is the largest supplier with 3 million consumers, ranks second in distribution networks and is the largest producer of electricity from renewable energy sources with 597 megawatts of installations.

“Thanks to its presence in different geographical regions, the PPC group will manage risk diversification by taking advantage of different weather conditions in each region, based on its large and complementary portfolio of renewable sources, mainly photovoltaic and wind farms,” ​​the company notes. According to the presentation of the business plan, the benefit from the synergy in the Balkans is estimated at 50 million euros per year.

This plan is supported by the strengthening of interconnections in the region, as the Greek electricity transmission operator ADMIE implements or plans to expand existing connections or build new connections with all countries on Greece’s northern border. A second connection with Bulgaria was recently put into operation, and discussions have begun regarding the construction of a third connection.

According to related data, cross-border electricity trade in 2023 between Romania and Bulgaria was 1.5 terawatt-hours (TWh), Bulgaria-Greece 2.8 TWh and Greece-Italy 1.3 TWh – hours A major driver of interconnection energy flows is the significant price differences between the respective markets: the average electricity price in Romania/Bulgaria in 2023 was €104 per MWh, in Greece €119 and in Italy €127. Increased import/export of electricity also has a direct benefit to the consumer, as more expensive domestic sources are replaced by cheaper imports.

The article was created with the support of Rador Radio Romania