Our Company

Profile, Background, Strategy

The Company

PPC Renewables SA (PPCR), is a wholly-owned subsidiary of the Public Power Corporation SA, Greece’s largest power generation company. In 2006, PPCR inherited all Renewable Energy Source (RES) related activities (wind, small hydroelectric, solar and geothermal) from PPC, including all its technological innovation, know-how and expertise in the field of power generation.  Having constructed and currently operating more than 30 wind farms, 18 small hydro plants, large PV parks and a hybrid power plant with total installed capacity exceeding 230MW, PPC Renewables has a significant position in the Greek renewable energy market aiming to be a driver in the transformation currently ongoing in the country.

PPCR projects map

Fig.1 PPCR projects

PPC Renewables is the only company in Greece active on all forms of Renewable Energy Sources, namely wind, solar, hydroelectric, geothermal, biomass while targeting through a combination of organic growth and strategic partnerships to further expand its portfolio in innovative technologies such as offshore floating wind farms and floating PV.

With sustainable development as our guideline, our philosophy is to create Shared Value by giving back to the local communities and the environment proactively beyond conventional obligations. Sustainable development and business planning in alignment pave the strategic path to our quest to lead the energy transformation in Greece.

The company encompasses a huge know-how on the field of renewables with experience in demo projects dating back to the early 80s, when the Department of Alternative Energy Forms was founded by the parent company PPC. The department was responsible for tracking, recording and studying the country's wind, solar and geothermal potential as well as other alternative sources for the production of electric power, for experimental or commercial utilization, and their integration into the PPC energy production plan. The invaluable expertise and experience gained was to be utilized a few years later both in the shaping of national policy regarding RES and in the development of the sector by private investors. For a brief period until the early 90s, PPC's interest in RES appeared confined to the islands, where the cost of running conventional power plants was exceedingly high. However, following the reform of the legislative framework and improvement of incentives, the conditions for RES changed dramatically. Over the last decade, the aforementioned know-how was carried over to PPCR and the company was able to move at a rapid pace via flexible actions and compete directly with private producers. Consequently, the new company was able to collaborate with private contractors and producers to carry out projects, and was eligible for investment subsidies. Currently, PPCR employs 75 members of staff comprising a mixture of experienced personnel and highly skilled new engineers and scientist.

PPC Renewables is environmentally friendly and fully aligned with ecological standards. Its actions have minimal impact on the natural environment and the company fulfils all legal and ethical obligations for its protection and preservation. At the same time, through its optimal exploitation of Renewable Energy Sources, the company creates today a cleaner and safer environment for tomorrow. Indicatively, the company generated revenues of the order of 22.5 m€ in 2016 (11.8m€ from wind, 9.06 m€ from small hydro and 0.6 m€ from PV power plants).  Simultaneously, the company contributes to the country’s economic growth through projects that improve the quality of life of local communities, all over Greece. Some of these endeavors, such as the Ikaria Hybrid Energy Project, place the company and the country at the forefront of innovation at a European level.  PPC/PPCR has carried out over the past decades several research and innovation projects including the first PV power plant in Kythnos island, (100 kW, 1982) and the first European wind farm also in the same island (100 kW, 1983), as well as Commercial projects, funding from HORS QUOTA, Integrated Mediterranean Programmes & VALOREN for wind farms of 25 MW in the Aegean island, Euboea and Crete (1986-9). The company was also the first to install demo hybrid projects and currently has undertaken a pumped storage and wind hybrid power plan in the island of Ikaria (85% completion rate) which is among the first of its kind at a European level. The company is strongly involved in monitoring and employing new technologies, legislative framework and energy market transformation towards achieving national and EU set policies.

Dynamics

The last 4 years PPCR has developed a strong and competitive portfolio, having a significant number of accomplishments and advantages, adequate to lead it at the top of the RES sector in Greece. Some milestones of our course are: - The development of Human resources processes and management systems, aligned to global practices and standards. In addition, one of PPCR priorities is the development of constructive relationships with the company’s stakeholders, such as the local communities and the Public Authorities. Innovation

- The O&M management optimization aiming to maximize productivity and return of current installations and especially of the Wind Farms. Adoption of the best project management practices and of a solid PMO methodology. Initiation of process improvements to enhance corporate performance.

- The operating projects base has grown with 6 new Wind Farms, the construction of 1 SHPP and 1 PV Plant, of 23,4 MW total installed capacity. - Remarkable upgrade and enrichment of the current portfolio with the submission of permit applications for important and innovative projects, and JVs with distinguished Greek and Foreign companies (Terna, S&B, ETBA, Iberdrola, EDF and Solar Reserve). At the same time, PPCR is seeking investments opportunities in Balkans and especially in Romania.  Relying upon a sophisticated managerial team, highly trained technical staff and joint ventures with the largest Greek and foreign companies in the RES field, PPC Renewables harnesses the power of nature by developing and implementing innovative technical and business solutions.

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Fig.2 PPCR Personel at Hydroelectric station "Stratos II"
 
Growth

The fundamental goal of PPCR is to grow rapidly at both local and national levels.

A. Local level

Based upon a spirit of cooperation, PPCR develops projects which improve and further boost the standards of living of the local communities involved. Important benefits that result from PPCR’s operations at the local level include the creation of new employment opportunities, energy self-sufficiency, and improvement of existing and development of new infrastructure.

B. National level

A shift towards energy self-sufficiency and independence from the unstable oil market environment leading to economic growth are the immediate results of PPCR’s activities.

Environment

PPC Renewables is environmentally friendly and fully aligned with ecological standards. Its actions have minimal impact on the natural environment and the company fulfills all legal and ethical obligations for its protection and preservation. At the same time, through its optimal exploitation of Renewable Energy Sources, the company creates today a cleaner and safer environment for tomorrow.    Bringing today the energy of tomorrow   PPC Renewables, with an investment plan of over €1,4 billion until 2016, leads the dynamic development of RES in Greece. Simultaneously, our company contributes to our country’s economic growth through projects that improve the quality of life of local communities, all over Greece. Some of these endeavors, such as the Ikaria Hybrid Energy Project, place our country at the forefront of innovation at a European level. Through its activity in all four main RES fields, PPC Renewables aims to continue to play a leading role in its sector, acquiring a 20% domestic RES power.

Our Strategy

"If we take the right decisions now, Europe can lead the world to a new industrial revolution: the development of a low carbon economy"

Andris Piebalgs, European Energy Commissioner

Three Dimensions for Success

• Development of a unified team (using resources from PPC and the market) with competitive capabilities

• Realization of the full potential value of existing plants

• Planned growth to attain and maintain a 20% share of the RES market in Greece

Strategic Targets

Developing the Team

• Make the most of the wealth of experience provided by PPC employees supported by the hiring of accomplished professionals from the private sector.

• Implement our values with the professionalism and discipline of the private sector.

Realizing the Value Potential of Existing Plants

• Overhaul Wind Farms and SHP and arrange service agreements to maintain maximum productivity

Attaining and Maintaining 20% Share of the Greek RES Market

• Grow organically by exploiting our own project development pipeline but also through strategic alliances and joint ventures  • Limit project selection only to those which add economic value to the PPC group

• Develop methods for the transfer of technology and innovation for growth  • Set up the resource structure over the next three years to build the foundations for desired growth

Bringing today the energy of tomorrow

PPC Renewables, with an investment plan, leads the dynamic development of RES in Greece. Simultaneously, our company contributes to our country’s economic growth through projects that improve the quality of life of local communities, all over Greece. Some of these endeavors, such as the Ikaria Hybrid Energy Project, place our country at the forefront of innovation at a European level. Through its activity in all four main RES fields, PPC Renewables aims to continue to play a leading role in its sector, acquiring a 20% domestic RES power.