Greece’s PPC To Sell Bonds To Residents For Solar Power

• PPC of Greece has shared plans to raise investment from local residents for solar power projects
• It plans to offer 5% of shareholding in 2.5 GW solar power capacity it plans to deploy in Western Macedonia and Megalopolis
• The reason it states behind the scheme is to ensure involvement of denizens in the energy transition of their regions

Greece's state-owned utility Public Power Corp (PPC) plans to offer 5% shareholding of its planned solar PV projects to local residents in the municipalities of Western Macedonia and Megalopolis.

According to the PPC announcement in Greek language, it wants to finance 5% of the 2.5 GW solar power capacity here through debt securities, to be offered to the denizens of the 2 regions. Bonds will be issued for both the regions soon after PPC is in possession of project licenses.

The utility believes this scheme enables participation of local residents in the energy transition of their regions that are currently dependent on lignite coal power plants.

According to a report by EnergyPress, PPC wants to issue 70,000 bonds in total, pricing it at €1,000 each while expecting 6% to 7% yield on bonds. Final price and number of bonds will be issued just before the projects enter construction. This, as the report points out, could be more in access of the affluent.

In December 2020, local media reports claimed PPC's renewables arm PPC Renewables has secured green light from the Energy Regulatory Authority in the country to install 1.9 GW large scale solar power capacity in Western Macedonia as the country tries to rid itself of lignite and coal power plants (see PPC Renewables To Build 1.9 GW Solar On Lignite Sites).