- Dec 6, 2020 11:14 am GMT
Greece’s Public Power Corp. (PPC) announced on Wednesday that it will spend 3.4 billion euros ($4.11 billion) on its power grid as it looks to phase out all but one of its coal-based plants by 2023.
PPC is the largest utility company in Greece and is largely owned by the government, the government controls 51% of the company’s shares.
This announcement during a presentation to investors which was released on Wednesday, December 2nd, 2020. In the presentation, the company said that out of the 3.4-billion-euro spending, 42 percent of the money will be directed towards upgrading power distribution across the country.
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