Public Power Corporation S.A. (PPC) reported solid first-quarter results for 2025, demonstrating resilience amid challenging weather conditions. The Group posted an adjusted EBITDA of €453 million, maintaining its full-year guidance of €2 billion.
Despite weaker hydrological and wind conditions in both Greece and Romania, which curtailed renewable energy output, PPC continued to deliver robust profitability. The Group also reaffirmed its strategic commitment to clean energy, allocating 89% of its €0.48 billion in Q1 investments toward renewable energy sources (RES), and grid modernization.
PPC’s installed RES capacity rose to 6.2 GW by the end of Q1 2025, up from 4.7 GW a year earlier, with another 3.7 GW either under construction or in advanced development stages. Notably, 0.7 GW of new projects were completed during the quarter.
Key milestones included the launch of the second phase of a 490 MW solar plant in Megalopolis and the commencement of two battery energy storage system (BESS) projects ”Melitis 1” and ”Ptolemaida 4”, with combined capacity of 98 MW. PPC aims to develop 600 MW of BESS capacity across Greece and Southeastern Europe by 2027.
Although large hydro output fell by 27% due to lower reservoir inflows, and wind generation declined on lower wind speeds, RES still contributed 27% of PPC’s electricity mix in Q1. Natural gas generation increased by 69% year-over-year to meet rising electricity demand and export requirements.
Over 50% market share in Greece. 57% smart meter penetration in Romania
In retail, PPC maintained a stable 50% market share in Greece and 16% in Romania. Distribution investments rose 24% year-on-year to €280 million, as smart meter penetration increased to 14% in Greece and 57% in Romania.
The Group also expanded its telecom and e-mobility footprint. Fiber-to-the-home (FTTH) reached 948,000 households and businesses, with a 2025 goal of 1.5 million. PPC leads the Greek EV charging market with 3,267 public charging points across Greece and Romania.
