Public Power Corp. narrows losses, new coal-fired plant helps
ATHENS, March 23 (Reuters) -Greece's biggest power utility Public Power Corp. (PPC) DEHr.AT said on Thursday 2022 losses narrowed on the back of a positive contribution from a new coal-fired plant.
Net loss came in at 8.9 million euros ($9.70 million) last year versus a loss of 18.4 million euros in 2021.
PPC said that it booked a 177.5 million euro gain from reversing an impairment for its investment in its new Ptolemaida V coal plant.
It said that coal-fired generation was not loss-making any more amid the energy crisis.
The utility will stick to its commitment to distributing a dividend in 2024, it added.
PPC has more than 600 megawatt of installed renewable energy capacity and has secured permitting for green projects of over four gigawatt, it said.
($1 = 0.9177 euros)
Reporting by Angeliki Koutantou;Editing by Elaine Hardcastle
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