Greece's PPC plans 4 billion-euro capital raise to boost installed capacity by 2030 (updated)

Public Power SA

23/04/2026 18:27

Adds details throughout

April 23 (Reuters) - Greece’s Public Power Corporation  (PPC) said on Thursday it plans a 4 billion-euro ($4.68 billion) capital increase as part of its 24 billion-euro investment plan to nearly double its installed capacity by 2030.

The Greek state will participate in the share offering to maintain its 33.4% stake in PPC, directly or indirectly, the finance ministry said earlier on Thursday. PPC is the country’s biggest power utility.

The equity raise  will fund about 15% of PPC’s 24 billion‑euro investment plan through 2030 and help keep net debt within target leverage levels, the company said in the statement.

PPC said the offering will be conducted without pre‑emption rights but it will prioritise existing shareholders through an allocation mechanism aimed at limiting dilution.

Subject to shareholder approval on May 14, the transaction is expected to launch and close later in May.

It said Citigroup Global Markets Europe AG and Goldman Sachs Bank Europe SE were acting as joint global coordinators and joint bookrunners only in relation to the international offering.

The utility plans to nearly double installed capacity to 24.3 gigawatts by 2030, primarily through investments in renewable energy, flexible generation and storage, while lifting dividends to 1.40 euros per share by the end of the decade.

($1 = 0.8548 euro)

(Gdansk Newsroom; Editing by Matthew Lewis)

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