PPC's Geostrategic Importance in Regional Energy Landscape as seen by the US Administration

The Public Power Corporation’s (PPC) plans in the region of the Western Balkans and the Southeast Mediterranean were presented by PPC president and CEO George Stassis to the US Assistant Secretary of State for Energy Resources, Ambassador Geoffrey Pyatt. With activity in Greece, North Macedonia, Bulgaria, and Romania, PPC has the ambition to grow more in the region, and as such its geopolitical role is growing more important. The expansion of the company is considered an element that reduces energy risks, with more RES and less dependence on Russian natural gas.

“I informed him of our energy transition plans, new clean and flexible generation investments in Greece, Romania, Bulgaria and the rest of the region, and the important role of PPC S.A. with regards expanding the regions’ energy corridors and the Three Seas Initiative,” Georgios Stassis said about his meeting with the US official.

Both Stassis and Ambassador Pyatt participated in the 5th Forum for Southeast Europe and the Eastern Mediterranean, held in Washington, D.C., and co-organized by Kathimerini English Edition, the Delphi Economic Forum, and the Hellenic American Leadership Council (HALC).

During the event, the US official discussed the importance of the vertical corridor linking Greece and the gas resources of Alexandroupolis and Revithousa up through Bulgaria, Romania, into Moldova and Ukraine as a means to accelerate the phase-out of coal in Central Europe and the Western Balkans, as well as to reduce gas dependency and diminish Vladimir Putin’s influence. The gas corridor is a “very powerful complement and a specific example of how we translate that larger 3 Seas vision into new architectures of cooperation,” he stressed.

Pyatt also commended PPC’s corporate transformation and investments in Romania and in the wider region. “It was enormously encouraging to hear how successful PPC has been in their corporate transformation, the new stakes that PPC is making in Romania, the work that is doing to accelerate renewables phase-in across Greece and the wider region,” he added.

According to PPC’s strategy for 2024-2026, the interconnections between Greece-Bulgaria-Romania will contribute to the optimization of energy management portfolios providing economies of scale and risk diversification. The newly formed energy corridor in the Balkan region provides additional synergies by leveraging the largest portfolio in the region and has substantial potential for value creation, benefiting all countries involved, according to PPC. By 2026, PPC anticipates the commissioning of new green power plants in Romania with capacities totaling around 1.3 GW. The renewable generation across the PPC group will originate from areas with diverse climates and geographies, enhancing certainty and flexibility between countries and contributing to a more resilient regional model.