Global ratings agency Fitch Ratings has upgraded the credit rating of Public Power Corporation (PPC) to BB from BB-, assigning the company a stable outlook. Fitch said the upgrade reflects expectations that PPC’s accelerated expansion into renewable energy through 2030 will strengthen its business profile by increasing geographic diversification, improving supply integration and reducing its reliance on traditional thermal power generation. According to the agency, PPC’s 2030 strategy is transforming the utility into a larger, more diversified and integrated energy company with a growing focus on clean electricity generation and supply.
Fitch expects the company’s generation asset base to double by 2030 compared with 2025. The expansion into Central and Southeast European markets is also expected to reduce PPC’s dependence on its core operations in Greece and Romania. The ratings agency noted that PPC is pursuing additional growth opportunities in high-demand sectors, including data centres, power purchase agreements (PPAs) and infrastructure leasing beyond the information technology sector.Advertising1 (adsbygoogle = window.adsbygoogle || []).push({}); Renewable energy remains the company’s primary growth driver, supported by a substantial 22-gigawatt project pipeline.
Around 12 GW of those projects are expected to enter operation by 2030, while all planned developments through 2028 are either under construction, ready for construction or in the tendering phase. Fitch also highlighted PPC’s investments in flexible power generation, energy storage and new natural gas plants, saying they will improve system reliability, reduce electricity price volatility, strengthen operational integration and lower carbon emissions. The agency forecasts average annual EBITDA growth of around 17% between 2025 and 2030.
It also expects PPC’s electricity generation to increase to approximately 28 terawatt-hours (TWh) by 2030, up from 20.9 TWh in 2025. Fitch further expects PPC to complete its planned phase-out of lignite-fired power generation by the end of 2026, in line with the company’s previously announced strategy. Advertising1 (adsbygoogle = window.adsbygoogle || []).push({}); The post Ratings Agency Upgrades Rating for Greek Public Power Corporation appeared first on Greek City Times.
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