Greece’s PPC is providing photo voltaic venture linked bonds in coal-dependent areas

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June 2 (Renewable Energies Now) – Greek utility PPC SA (ATH: PPC) plans to offer project bonds to residents in lignite-dependent areas exclusively in Western Macedonia and Megalopoli, Energypress reports.

The two regions are the country’s main suppliers of lignite and their economies are heavily dependent on the production process. PPC intends to install large solar parks in these areas to support their decarbonization and economic development. It is said to have submitted licenses for 2.9 GW solar projects there.

According to the report, the utility will issue two tranches of brown coal, which will represent 5% of its total investment in solar projects in the two areas, with returns between 6% and 7%. Both issues are to offer bonds worth EUR 1,000 (USD 1,221) each in order to make them accessible to a larger group of residents.

The bonds are due to be issued after PPC obtains the necessary licenses for the photovoltaic (PV) programs.

(EUR 1.0 = USD 1.221)