PPC Group has published its financial results for the first quarter of 2025, reporting an adjusted EBITDA of 450 million euros. The figure reflects the impact of seasonal factors, particularly unfavorable weather conditions in Greece and Romania that reduced renewable energy output. Lower rainfall and weak wind conditions led to a decline in generation across the Group’s renewable energy portfolio.
Profitability was further pressured by the performance of the distribution segment in Greece. A delay in implementing updated charges for distribution network usage, combined with seasonal effects, caused a drop in revenue. However, this is expected to improve in the second half of the year once the new tariffs are in place and seasonal demand patterns shift.
In Q1 2025, PPC made investments totaling 480 million euros, with around 89 percent directed toward renewable energy projects, flexible generation, and upgrades to the electricity distribution network. These investments are part of the Group’s broader strategy to increase clean energy capacity and modernize infrastructure.
By the end of the quarter, PPC had reached 6.2 GW of installed renewable energy capacity, including about 700 MW added since the start of the year. This marks a significant increase from the 4.7 GW recorded at the end of Q1 2024. The growth trend is expected to continue, with an additional 3.7 GW currently in various stages of development.
In March, PPC entered the second stage of constructing a 490 MW solar power plant in Megalopolis. Built on former lignite mining lands, the project is being developed in three phases. The first 125 MW is under construction and due for completion in 2025. The second 125 MW phase has now begun, with the final 240 MW phase scheduled for 2026.
PPC is also developing two Battery Energy Storage Systems (BESS) in Western Macedonia. The Melitis 1 facility will have 48 MW of capacity and 96 MWh of storage, located near planned solar parks. The Ptolemaida 4 project will provide 50 MW of capacity and store 100 MWh, situated on a former coal mining site. These installations are designed to improve the stability and efficiency of renewable energy supply by better managing fluctuations in generation and demand.
PPC’s broader energy storage strategy for 2025–2027 aims to deploy 600 MW of battery capacity across Greece and southeastern Europe, with several projects already in progress.
Looking ahead, PPC maintains its full-year financial targets for 2025, projecting an adjusted EBITDA of 2 billion euros and an adjusted net income (after minority interests) of over 400 million euros. The Group also plans to distribute a dividend of 0.6 euros per share, representing a 140 percent increase compared to the previous year.
