The PPC Group announces a new Strategic Plan 2030 to leverage growth opportunities through an investment plan of approximately 24 billion euros, which includes tripling installed capacity in Romania. The Group aims to double the Group's total installed capacity to 24.3 GW by 2030, targeting annual net growth of 2.4 GW, mainly through investments in renewable energy sources (RES), flexible generation, and storage.
Public Power Corporation (PPC) announces its intention to raise capital through a new share issuance of approximately 4 billion euros and a book-building process to determine the offering price of the shares to be issued, with the aim of financing the new PPC Group Strategic Plan 2030. It is proposed that the new shares be offered through a public offering in Greece and a private placement to institutional investors outside Greece, as well as a combined offering of the first two.
„The PPC Group is entering its next major chapter of growth and rising to the next level by capitalizing on the opportunities in Central and South Eastern Europe. We clearly see the region's need for more, cleaner and more flexible electricity, and we are determined to meet that need. We are building on the solid financial foundations we have built over the last few years and on our expansion outside Greece so far. At the same time, we are actively developing a 300 MW Data Center in the former Kozani coal field in Greece, which will utilize local energy production and create new economic value for the region. The increase in Share Capital will ensure that the Net Debt/EBITDA ratio remains well below the Group's 3.5x threshold and will also provide the opportunity to capture attractive opportunities. With a prudent but visionary strategy, we are choosing to invest today to fill the emerging gap and to be a key contributor to the energy security and growth of Central and South East Europe,“ said Georgios Stassis, Chairman and Chief Executive Officer of Public Power Corporation SA.
Capital increase
It is proposed that the capital increase be carried out without pre-emptive rights; however, a mechanism for the preferential allocation of new shares to existing shareholders participating in the combined offering may be applied.
The capital increase will enable the PPC Group to finance its Strategic Plan, which aims to accelerate investments in key geographical areas, increase international presence, invest in new sectors that the company considers strategic or complementary to its core activities, and maintain flexibility for additional growth opportunities in the energy and technology sectors.
Opportunities in CSEE
In the rapidly expanding Central and South East Europe (CSEE) region, the PPC has identified key factors that create investment opportunities in the region, including the imbalance between supply and demand in the energy market, which can lead to higher returns on capital; the closure of a significant number of thermal generation units, which creates a major opportunity for large-scale development of alternative forms of generation; the lack of interconnection of the region with the rest of Europe, which will keep wholesale prices high; Ukraine's contribution to the region's energy demand by moving to net energy importer status from net exporter status; and regional electricity demand, expected to grow significantly over the next decade, supported by higher economic growth compared to Western Europe, policies to relocate production, increasing electrification, Data Centre capacity development and EU-funded capital expenditure („capex”).
To capitalize on these opportunities, the PPC Group is accelerating its investment program in the region, investing in SEE power systems and Data Center infrastructure. The PPC Group aims to double its installed capacity to 24.3 GW in 2030, from 12.4 GW in 2025, significantly increasing the annual growth of installed capacity to 2.4 GW (from 1.4 GW previously) through investments in renewable energy systems („RES”), flexible generation, and storage. Specifically, in Greece, PPC aims to add 5 GW by 2030, bringing total installed capacity to 13.3 GW, despite the complete phase-out of coal-fired power generation, which will be completed in 2026, and the decommissioning of 40% of hydrocarbon-based generation in the Greek islands.
In Romania, the PPC Group aims to triple its installed capacity between 2025 and 2030, to reach 5.3 GW, through investments in RES, storage, new natural gas units, and peak load units.
In other countries where the PPC Group has recently established a presence, namely Italy, Bulgaria, and Croatia, the PPC Group aims for significant growth in its investment plan, mainly through the construction of RES and storage units, as well as natural gas units, with the target of increasing installed capacity to 3.5 GW by 2030.
In the broader CSEE region, the Strategic Plan aims to enter new countries, namely Hungary, Poland, and Slovakia, through organic growth and acquisitions, targeting an installed capacity of 2.2 GW in RES and storage by 2030.
By 2030, 45% of PPC Group's installed capacity is targeted to be outside Greece, and the energy mix will include all modern forms of electricity generation (solar, wind, hydroelectric, natural gas, storage), diversifying the company's portfolio both geographically and technologically.
The Strategic Plan includes the development of a 300 MW Data Center in the former Kozani lignite mining area in northern Greece, with the company in negotiations with top hyperscalers, construction is forecast to begin in 2026, with relevant capital expenditures for PPC amounting to 1.2 billion euros.
Financial targets
The main financial targets of the Strategic Plan are an EBITDA of 4.6 billion euros in 2030, up from 2.0 billion euros in 2025, a net profit growing more than 3 times, to 1.5 billion euros in 2030, from 0.45 billion euros in 2025, as well as an increase in the dividend per share to 1.4 euros by 2030, from 0.4 euros in 2024, with a compound annual growth rate (CAGR) of approximately 24%.
In line with the Strategic Plan, PPC Group's capital expenditures between 2026 and 2030 are estimated at €24.2 billion, of which% 95 is allocated to growth projects and% 48 outside Greece, thus diversifying risk. Regarding financing,% 54 of the capital expenditures will be financed by cash flows from operations,% 31 by increasing net debt, while the Share Capital Increase is expected to finance% 15 of the capital expenditures. The Share Capital Increase also aims to ensure that the Net Debt/EBITDA ratio remains well below 3.5x, in line with PPC Group's commitments on its existing debt.