Analysts in London show keen interest in PPC’s nine-billion-euro investment plan

More than 200 analysts from the largest financial houses in the world attended the presentation in London of Public Power Corporation’s (PPC) investment plan, amounting to nine billion euros over the next three years, which lasted over two hours.

The presentation on Tuesday by PPC Group Chairman and CEO Giorgos Stassis emphasised renewable energy sources, further penetration in Southeast Europe and the modernisation of networks, as well as the phasing out of lignite coal and an expansion into new markets and activities (telecommunications, electrification etc.)

“Our updated strategic plan 2024-2026 is focused on three pillars: a clean and resilient production portfolio, modernisation of the distribution network and customer centricity,” Stassis said.

The new business plan envisages operating profitability (EBITDA) of 2.3 billion euros in 2026 and 3.0 billion euros in 2030. It also foresees a significant increase in investments of 130% compared to the three years 2021-2023, at nine billion euros mainly in RES, network upgrading and new activities, which will be financed mainly from the Group’s operating cash flows and borrowing, 80% of which has already been secured. RES will make up more than two thirds of the total installed capacity in 2026 from 43% at present, and will reach 8.9 gigawatts in 2026.

Despite the significant investments, the Net Debt/EBITDA ratio is expected to be 3.3x, i.e. at levels below the upper limit of 3.5x set by the management.