PPC presented a EUR 5.8 billion investment plan for the coal region of Western Macedonia in northern Greece. It held the ceremony in the retired Kardia 2 lignite plant.

According to PPC’s chairman and CEO George Stassis, the endeavor consists of the decommissioning of old assets and the rollout of new energy technologies.

PPC, or DEI in Greek, said it would return to the government 8,000 hectares of coal land that it no longer needs, after completely restoring it. All equipment, such as 400 kilometers of lignite conveyor belts, cooling towers and excavators, are planned to be recycled up to 95%.

According to the decarbonization timeframe, Ptolemaida 5 will be the last coal plant in the country, continuing to operate until the end of 2026. It is set to be converted to a gas power plant with a capacity of 350 MW. PPC is also open to upgrading it to 500 MW or even 1 GW.

“Western Macedonia can reinvent itself using new technology,” said the CEO.

The group aims to install a total of 2.1 GW in photovoltaics across the region. A 550 MW solar power plant in the former lignite mine of Ptolemaida is almost complete. It will be the biggest in the Balkans. Separately, a group of clusters of 940 MW is under construction within the Meton joint venture with German RWE.

Energy storage is another major segment in PPC’s investment plan. Within the next three years, it aims to funnel EUR 940 million for a total capacity of 860 MW. It includes two pumped storage hydropower projects. The one in Kardia is for 320 MW and an eight-hour storage duration, and the other in the South Lignite Field – 240 MW and a 12-hour duration. The projects are worth EUR 430 million and EUR 310 million, respectively.

Equally important, battery storage units of 300 MW altogether would be installed in Amyndaio, Akrini, Meliti and Kardia in the country’s main coal region. The other one is Megalopolis in the Peloponnese.

PPC plans a 50 MW hydrogen production facility together with Motor Oil, as Hellenic Hydrogen, and a cogeneration plant to cover district heating needs from the end of 2026.

Last but not least, the Greek group aims to create a 300 MW data center, as part of an investment of EUR 2.3 billion. A subsidiary in fiber optic cables would upgrade the telecommunication links with Thessaloniki and Igoumenitsa to improve data flow in Greece and abroad.

If conditions are favorable, PPC would further upgrade the data center to 1 GW, increasing its investment by EUR 5.4 billion.