Public Power Corporation S.A. (PPC) is the biggest power producer and electricity supplier in Greece, with approximately 7.4 million customers. PPC holds infrastructual assets in lignite mines, power generation, transmission and distribution. PPC’s current power portfolio consists of conventional thermal and hydroelectric power plants, as well as RES units, accounting for approximately 68% of the country's total installed capacity. PPC is listed on the Athens and London Stock Exchange.
Following the spin-off of the Transmission and Distribution segments, pursuant to the provisions of Law No. 4001/11, two 100% subsidiaries of PPC were created, namely IPTO S.A. (Independent Power Transmission Operator S.A.) and HEDNO S.A. (Hellenic Electricity Distribution Network Operator S.A.).
Despite being a 100% subsidiary of PPC S.A, ΙPTO is entirely independent from its parent company in terms of management and operation. ΙPTO has undertaken the role of the Hellenic Electricity Transmission System (HETS) Operator and, as such, it performs the duties of HETS System operation, maintenance and development, so as to ensure Greece’s electricity supply in a safe, efficient and reliable manner.
Law No. 4389/2016, as amended by Law No. 4393/2016, provides for IPTO’s full ownership unbundling from PPC. In particular, according to Law No. 4389/2016, IPTO’s unbundling is envisaged to be effected via a) the transfer of IPTO’s 51% share capital owned by PPC to a HoldingCo, which is expected to be listed on the Athens Stock Exchange, b) the sale and transfer of 25% of the existing IPTO shares to a company controlled by the HR titled “DES ADMIE” and c) the sale, by PPC, of 24% of existing IPTO shares to a strategic investor.
HEDNO S.A. is a 100% subsidiary of PPC S.A., however, it is entirely independent from its parent company in terms of management and operation. HEDNO has undertaken the tasks of the Hellenic Electricity Distribution Network Operator and, as such, it performs the duties of operation, maintenance and development of the Hellenic Electricity Distribution Network (HEDN). PPC S.A., already granted with the relevant Exclusivity Permit, retains the ownership of the HEDN.
PPC is also active in the RES sector through its subsidiary company “PPC Renewables S.A.”. The company has a dynamic presence in the Greek RES market and owns 20 Wind Farms, 17 Small Hydro and 28 Photovoltaic Power Plants with a total installed capacity of 153 MW, covering approximatelly 7% of the market.
For more information please refer to PPC's website: www.dei.gr/en