Greece’s incumbent utility, the Public Power Corporation
(PPC) has announced a target for new solar PV projects. The move, while
justified, may come too late to save the PPC, which is trying to reduce its
reliance on lignite and avoid bankruptcy.
Things do change after all. In the case of Greece’s PPC
utility, which owns 13 GW of electricity generation facilities (about 64% of
Greece’s installed capacity), the majority of which are coal plants, the recent
change in investment strategy has arrived rather late, and is widely viewed as
the result of tectonic policy changes that are currently taking place within
Greece’s electricity sector.
