Company Overview

Public Power Corporation S.A. (PPC) is Greece’s largest electricity utility and one of the most significant power companies in Southeastern Europe, operating across the electricity value chain. The company is primarily engaged in electricity generation, distribution, supply, and trading, while also expanding into renewable energy and related energy services. PPC serves residential, commercial, industrial, and public-sector customers, making it a cornerstone of the Greek energy system and a key participant in regional energy markets.

Founded in 1950 as a state-owned monopoly, PPC was established to electrify Greece and support national economic development. Over time, the company evolved through market liberalization, partial privatization, and restructuring aligned with European Union energy directives. Today, PPC operates as a publicly listed company with the Hellenic Republic remaining a significant shareholder, while the company transitions from a historically lignite-based generation model toward cleaner energy sources and digitalized customer-centric services.

Business Operations

PPC’s operations are organized around electricity generation, distribution, supply, and renewable energy development. Its core business segments include Conventional Generation, Renewable Energy, Electricity Supply, and Distribution Networks, with revenues primarily generated from electricity sales and regulated network charges. The company owns and operates a diversified generation portfolio that includes thermal power plants, hydroelectric facilities, and a rapidly expanding renewable energy base.

Domestically, PPC controls Greece’s electricity distribution network through its majority-owned subsidiary Hellenic Electricity Distribution Network Operator (HEDNO), which manages power distribution assets nationwide. Internationally, PPC has expanded operations in Romania, where it maintains generation, renewable, and supply activities through PPC Romania. The company also engages in energy trading, digital services, and e-mobility solutions, leveraging proprietary infrastructure and long-standing operational expertise.

Strategic Position & Investments

PPC’s strategic direction is focused on decarbonization, renewable energy expansion, and regional growth. The company has committed to a large-scale transition away from lignite-fired generation, replacing it with renewable energy projects, flexible gas-fired capacity, and energy storage solutions. Significant capital investments are directed toward solar, wind, and hydroelectric projects, as well as grid modernization and digital transformation.

Notable strategic moves include the acquisition of Enel Romania, which significantly expanded PPC’s international footprint and renewable portfolio, and continued investment through its renewable subsidiary PPC Renewables. The company is also involved in emerging sectors such as battery storage, smart grids, and electric vehicle charging infrastructure, positioning itself as a leading energy transition player in Southeastern Europe.

Geographic Footprint

PPC’s primary operations are based in Greece, where it maintains generation assets, nationwide distribution infrastructure, and a dominant retail supply presence. Its headquarters are located in Athens, serving as the central hub for strategic, financial, and operational decision-making. The company’s influence extends across all Greek regions, including mainland areas and island systems.

Internationally, PPC has a strong and growing presence in Romania, where it operates generation assets, renewable projects, and electricity supply activities. Through cross-border energy trading and regional investments, PPC maintains operational and commercial exposure across Europe, supporting its strategy to evolve into a regional clean energy utility with diversified geographic risk.

Leadership & Governance

PPC is led by an executive management team with a mandate focused on financial discipline, energy transition, and long-term value creation. The leadership emphasizes modernization, sustainability, and alignment with European climate and energy policy objectives, while maintaining system reliability and affordability for customers.

Key executives include:

• Georgios Stassis – Chairman of the Board and Chief Executive Officer
• Georgios Kotsalos – Deputy Chief Executive Officer
• Dimitris Mavros – Chief Financial Officer
• Konstantinos Mavros – Chief Operating Officer, Generation
• Stavros Thomadakis – Vice Chairman of the Board

The company operates under a corporate governance framework consistent with Greek and European regulations, with oversight from an independent board of directors and compliance with public market disclosure standards.