The official start of the process of increasing PPC’s share capital by 4 billion euros. euros is expected next Thursday, May 14, when the company’s general meeting of shareholders will meet to approve the management’s proposal.
The increase marks the transition from the “small PPP” plans that have been publicly discussed in the past to the “double PPP”, as a central element of the new business plan to be financed – among other things – by the capital increase is the doubling of installed capacity to 24.3 GW in 2030, from 12.4 GW in 2025.
The plan also includes further expansion of PPC’s business outside Greece (Bulgaria, Romania, Italy, Croatia, Hungary, Poland, Slovakia) and into new markets (telecoms, retail, electrification, data centres).
Specifically, with regard to power generation, according to management announcements:
In Greece, PPC aims to add 5 GW by 2030, with total installed capacity rising to 13.3 GW, despite full de-lignification, which will be completed this year, and the closure of 40% of oil-fired power generation on the islands.
– In Romania, the PPC Group aims to triple installed capacity between 2025 and 2030 to reach 5.3 GW through investments in renewable energy, storage, new gas plants and peakers (flexible gas plants).
– In the other countries where PPC Group has recently acquired a presence, namely Italy, Bulgaria and Croatia, PPC Group aims to significantly increase its investment plan, mainly through the construction of renewable energy and storage plants, as well as natural gas plants, with the aim of reaching an installed capacity of 3.5 GW by 2030.
– In the wider Central and South-Eastern Europe region, the Strategic Plan aims to enter new countries, namely Hungary, Poland and Slovakia, through both organic growth and acquisitions, with a target of 2.2 GW of installed capacity in renewable energy and storage by 2030.
Much of the increase has already been covered as the State and CVC Capital Partners, which directly or indirectly control 35.3% and 10.34% respectively of PPC’s share capital, have officially announced their intention to participate in the increase.
In addition, with regard to the proposal to the general meeting that provides for the abolition of the pre-emptive rights of existing shareholders of the company and at the same time for the priority distribution of shares to existing shareholders, the company has duly explained that a mechanism will be implemented to ensure that small shareholders will be able, if they wish, to participate in the increase in order to maintain their shareholding in the company.
