Payat: Greece and PPC are an example for the energy transition

Greece is an example of the energy transition, according to what was said by the US Undersecretary for Energy, former ambassador to Greece Jeffrey Pyatt, speaking at the conference entitled “2024 Energy Security and Geopolitics Conference” organized by the Center for Strategies and of International Studies (CSIS), in Washington.

At the same time, J. Payat praised the role of PPC in the region’s energy transition, while congratulating the government and Prime Minister K. Mitsotakis for the country’s energy transformation and the development of renewable sources.

Specifically, he said: “Greece is able to achieve penetration of RES by 80% in electricity production. Greece is an example of the energy transition which was recognized by the EU. This is an outstanding achievement, part of which is due to PPC, which is also an example for businesses in Europe.”

Mr Pyatt also said the US would keep up pressure on Russia with sanctions while he said LNG export capacity would increase by 120 billion cubic meters a year with new infrastructure construction underway.

Stassis: Political stability is a prerequisite for energy security

At the same conference, the president and CEO of the PPC group, Giorgos Stassis, referred to the “leading role” of PPC in energy transition of the country, but also of the wider region of Southeast Europe.

“PPC is a force of stability and a leader in the energy transition”, stressed Mr. Stassis, noting that we are at a critical moment in which we must face climate change and ensure energy supply. Political stability, he stressed, is a prerequisite for energy security, something Europe found out the hard way after Russia’s invasion of Ukraine. He also underlined the role of renewable sources in improving energy security but also the need for flexible energy systems and especially networks.

“Energy systems must be flexible to ensure stability, reliability and cost efficiency. “Flexibility comes from both energy assets (such as batteries and gas plants) and critical infrastructure, including resilient electricity grids and interconnections between countries,” said Mr. Stassis.

Describing the peculiarities of Southeast Europe, Mr. Stassis emphasized that there is a wide range of conditions – from Romania that is less dependent on natural gas imports to a significantly dependent Bulgaria. From countries that have advanced significantly with their energy transformation, such as Greece, to more inactive countries, such as the Western Balkans. And of course from countries with a stable political environment such as EU members to dangerous conditions of hybrid war, such as in Ukraine.

“Despite the complexities, PPC, as an integrated utility company, a leader in the development of clean energy, critical infrastructure and energy services, is ideally positioned to lead the energy transition in Southeast Europe,” said Mr. Stassis. “We know how to quickly deploy RES and flexible capacity, how to expand and modernize electricity networks and how to meet customer demand for affordable prices. We also fully understand the importance of synergies and more generally what an electricity system needs to transition into the new era while remaining safe. This is our mission and the driving force behind all our decisions,” said Mr. Stassis, while making special mention of PPC’s investments in Alexandroupoli, with the CCGT unit under construction, and the acquisition of Enel’s companies in Romania.