Greece's PPC to offer solar project-linked bonds in coal-reliant areas - report
Solar modules. Featured Image: Jackiso/Shutterstock.com
Greek utility PPC SA (ATH:PPC) is planning to offer solar project-linked bonds to residents in lignite-dependent areas, exclusively in Western Macedonia and Megalopoli, Energypress reports.
The two regions are the country's main suppliers of lignite resources and their economies are highly dependent on the production process. PPC intends to install large-scale solar parks in those areas so as to support their decarbonisation and economic development. It is said to have submitted licenses for 2.9 GW of solar projects there.
According to the report, the utility will launch two post-lignite bond tranches that will represent 5% of its overall investment in solar projects in the two areas, with yields of between 6% and 7%. Supposedly, both issues will be offering bonds worth EUR 1,000 (USD 1,221) each so as to make them available to a larger group of residents.
The bonds are set to be issued after PPC secures the needed licenses for the photovoltaic (PV) schemes.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.