PPC delivered a strong performance in the first half of 2025, with second-quarter results exceeding those of the first quarter, as expected, following the improvement in wind conditions that contributed to increased output from wind parks, as well as the overall better performance of the integrated business, according to a statement.
As a result, adjusted EBITDA reached 1 billion euros in the first half of 2025, marking a 7% increase compared to the same period last year.
Total investments amounted to 1.3 billion euros, with 90% being investments allocated to RES, flexible generation, and electricity distribution projects, in line with PPC’s strategic targets for the development of a clean and flexible electricity generation portfolio and the modernisation and the digitalisation of distribution networks.
Installed capacity in RES stood at 6.3 GW at the end of the first half of 2025, following the construction completion of an additional 83 MW at the Ptolemaida solar park, with the remaining 100 MW targeted for completion by year-end.
This is the largest single solar park in Greece, developed on the site of the former lignite mine in the area, and upon its completion by the end of 2025, it will have a total capacity of 550 MW. The project is tangible proof that the energy transition can yield mutual benefits for both PPC and the local communities.
PPC continues to develop its RES project pipeline, since during the second quarter of 2025, projects with a total capacity of 871 MW entered the construction stage, with the total capacity of projects under construction, ready to build or in the tender process (bid submission) amounting to 3.7 GW.
Lignite output in the first half of 2025 decreased by 6% compared to the first half of 2024 and stood at 1.4 TWh.
RES generation increased by 1.5% compared to the first half of 2024 despite the decrease of 347 GWh (-19%) from large hydropower plant output due to lower inflows into reservoirs.
This change in RES production was positively driven primarily by wind and solar park output, which increased by 40% and 17%, respectively, compared to the first half of 2024, reflecting both the addition of new capacity and the improvement in wind conditions in the second quarter of 2025. As a result, RES generation amounted to 3.1 TWh, corresponding to 32% of PPC’s total electricity generation.
At the same time, generation from natural gas increased by 18% compared to the first half of 2024, primarily to meet the needs arising from reduced hydro output in the first half of 2025, as well as from the increased export-import balance in Greece (increased exports combined with decreased imports) during the same period.
