The construction works for the PPC Group’s photovoltaic plants in Amyntaio and Ptolemaida, located in northern Greece, have been completed. Capitalizing on former lignite mining areas, the Group has developed photovoltaic parks with a total capacity of 2,130 MW, capable of generating 3,150 GWh annually. The output represents almost 6% of Greece’s annual electricity consumption and covers the needs of approximately 750,000 households. The operation of these photovoltaic plants will prevent over 1.5 million tons of CO₂ emissions annually.

At the same time, PPC Renewables, a wholly owned subsidiary of the PPC Group, has completed the construction of two electrochemical energy storage systems in Ptolemaida and Meliti and is building a third battery energy storage system (BESS) in Amyntaio. PPC Group also announces that it has obtained the necessary approvals for two pumped storage units in Kardia and South Field.

“In a volatile geopolitical, economic and energy context, renewable energy sources constitute a highly valuable local asset, ensuring the country’s energy independence. Greece is a true success story as, from 2019 to the present, in less than seven years, the share of production from thermal power plants has decreased from 67% to 50%, and PPC Group has played a key role in this achievement. Western Macedonia, a region in northern Greece, is becoming the country’s new green energy hub, hosting the largest photovoltaic cluster in Europe. Developed on former lignite mining sites, this production and storage complex ensures the optimal use of electricity and contributes to the stability of the energy system,” says Konstantinos Mavros, Deputy General Manager for RES at PPC Group.

2.13 GW PV parks completed in Western Macedonia

PPC Group has completed, on schedule, PV projects with a total capacity of 2,130 MW, capable of covering the needs of approximately 750,000 homes and businesses. Key projects include:

• “Phoebe” PV plant (550 MW): Located near Pontokomi and with an estimated annual production of 880 GWh. It covers the needs of approximately 196,000 households and prevents almost 440 kt of CO₂ emissions annually. The production amounts to 1.8% of the production of the interconnected system of Greece.
• Amyntaio PV complex (940 MW): Developed in cooperation with RWE in the areas of Rodonas, Filotas, Lakkia and Perdikkas. Estimated annual production of 1,500 GWh. Covers the needs of approximately 298,000 households and prevents over 750 kt of CO₂ emissions annually.
• “Helios Velos 1” photovoltaic power plant (200 MW): Located near Ptolemaida and with an estimated annual production of 320 GWh. Covers the needs of approximately 71,000 households and prevents almost 160 kt of CO₂ emissions annually.
• “Exochi 7” photovoltaic power plant (80 MW): Estimated annual production of 122 GWh. Covers the needs of approximately 27,000 households and prevents almost 61 kt of CO₂ emissions annually.
• “Akrini” photovoltaic power plant (80 MW): Estimated annual production of 122 GWh. Covers the needs of approximately 27,000 households and prevents almost 61 kt of CO₂ emissions annually.

In addition, ten smaller photovoltaic systems, located on former lignite mines, generate solar energy, covering the needs of thousands of households and preventing thousands of tons of CO₂ emissions annually.

In line with its commitment made in April 2025 regarding the investment plan in the Western Macedonia region, PPC Group launched a bond issue worth 5 million euros on March 13, 2026. This exclusively offers the residents of Kozani and Florina the opportunity to participate alongside PPC in investments in the region, while benefiting from a high and stable return.

Residents can register until April 17, 2026. The nominal value of each bond is 100 euros, with a minimum participation limit of five bonds and a maximum of 250 bonds. The guaranteed annual return is 8%, with the investor’s initial capital increasing by 40% (before taxes) within 5 years.

Energy storage: the next step for the PPC Group

The development and integration of large-scale photovoltaic plants into the electricity system will be supported by energy storage systems (electrochemical and hydro), which absorb the surplus energy generated and release it when electricity demand exceeds renewable production, while significantly contributing to grid stability.

To date, PPC Renewables has completed the construction of the BESS stations in Ptolemaida (near the Kardia power plant) and Meliti (near the Meliti power plant) in Western Macedonia, with a total installed capacity of 98 MW and a storage capacity of 196 MWh.

Near the Amyntaio power plant, construction work is already underway for another electrochemical energy storage station, with a capacity of 50 MW and 200 MWh, meaning it can supply electricity to the grid for up to four hours. The project is expected to be completed in the coming months.

At the same time, two major pumped hydro storage projects are taking shape in former mining areas, with the PPC Group already obtaining all the necessary approvals from the regulatory authorities.

The first pumped storage project is being developed in the Kardia mine area, following the decommissioning of the cooling towers of the old units. It will have a generating capacity of 320 MW for eight hours, using the bottom of the former mine as a lower reservoir.

Similarly, at the South Field mine, the Group is planning a pumped storage unit with a capacity of 240 MW for 12 hours, with an investment cost of €310 million.

Pumped storage projects are a modern energy storage technology that mitigates the intermittency of renewable sources and contributes to grid stability in a fully sustainable way. A typical pumped storage system includes two water reservoirs (located at different altitudes) and hydroelectric turbines. The electricity generated during periods of low demand is used to pump water from the lower reservoir to the upper one, where it is stored as potential energy. When demand increases, the water is released through turbines to the lower reservoir, generating electricity.

For these projects, the PPC Group uses its inactive mines, which are ideal for this purpose due to the differences in altitude and the possibility of being converted into water reservoirs.