Western Macedonia, long known for its role in Greece's lignite-based energy production, is poised for a dramatic transformation. Public Power Corporation (PPC), Greece's largest energy provider, has announced a sweeping €12 billion investment plan designed to pivot the region from fossil fuel dependency toward a future defined by clean energy and technological innovation.
Unveiled by PPC Chairman and CEO George Stassis, with Prime Minister Kyriakos Mitsotakis in attendance, the plan was presented at the site of the former Kardia power plant—symbolically marking the end of the lignite era. Mitsotakis hailed the initiative as "visionary, ambitious, and emblematic," calling it a cornerstone of Greece's strategy for a just transition in Western Macedonia. "The region needs a new role and direction," he said. "We can pursue it with fear or with courage. Today marks the beginning of a new economic landscape."
At the center of PPC's strategy is a comprehensive reimagining of the region's economic and energy identity. The plan includes large-scale investments in renewable energy, energy storage, digital infrastructure, and the circular economy. A key feature is the development of renewable energy projects with a total capacity of 3,000 megawatts, coupled with 860 megawatts of energy storage. These projects will be supported by €3.5 billion in investments, helping to ensure both supply stability and long-term sustainability.
One of the most significant components of the initiative is the creation of a massive 300 MW data center in Agios Dimitrios, designed to be the largest in Greece and among the largest in Europe. This center, with a €2.3 billion price tag, will operate independently of the national grid by sourcing energy directly from local renewable power stations. This model ensures both energy autonomy and high efficiency. If demand grows, the facility could be expanded up to 1 gigawatt, requiring an additional €5.4 billion in investment. Construction of the data center's first phase will create 4,000 jobs, with full expansion potentially adding 20,000 construction roles and 2,000 permanent positions.
In the energy sector, PPC plans to install 2,130 MW of photovoltaic parks, primarily on the sites of decommissioned lignite mines. This €1.2 billion effort will be complemented by advanced storage systems, including two pumped hydro stations—one in Kardia and another in the South Field—as well as 300 MW of battery storage in locations such as Amyntaio, Meliti, Akrini, and Kardia. The combined storage projects represent nearly €1 billion in additional investment.
Another major development is the repurposing of PPC's Ptolemaida 5 lignite unit into a 350 MW open-cycle natural gas plant, with future potential to be converted into a 500 MW combined-cycle facility and eventually scaled to 1,000 MW. This conversion is expected to create around 300 new jobs. Similarly, parts of the old Kardia plant will be transformed into grid-supporting condensers, and an €80 million high-efficiency combined heat and power plant is scheduled to come online by the end of 2026.
PPC is also exploring circular economy opportunities, including a €150 million pyrolysis facility in Amyntaio that will extract chemical compounds from the materials of the former lignite infrastructure.
Crucially, the investment plan includes provisions to directly involve the local population. A €5 million green bond will be issued exclusively to residents of Western Macedonia in the third quarter of 2025. Backed by PPC and offering an 8% fixed return, the bond will allow locals to invest in—and benefit from—the region's green transition.
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