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PPC to invest in renewable energy November 7, 2007

Posted by grhomeboy in Energy.
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The Public Power Corporation, Greece’s biggest electricity company, plans to build a total 950 megawatts of renewable energy units by 2014.

The company’s PPC Renewables unit will invest 1.95 billion euros ($2.8 billion) over that period, it said in a regulatory filing yesterday. PPC will contribute 330 million euros of the total investment between 2008 and 2011, the statement said. The government expects energy companies to invest more than 4.5 billion euros in the country by 2010 as a result of measures to make it less dependent on oil. Greece has no nuclear power and produces almost no oil or natural gas.

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