World Economic Forum
Summary
For decades, Greece relied heavily on lignite, a low-grade coal, to power homes, heat cities in the North, and fuel the economy. As the environmental cost of fossil fuels and the feasibility of alternatives became clear, Greece embarked on a decisive transformation towards sustainable energy. The remarkable story of this shift offers lessons on how a fossil-fuel past can turn to a clean energy present and future.
Ensuring an inclusive transition
The project introduces innovative mechanisms for local participation and shared value creation. PPC has announced a €5 million social bond, targeting Kozani residents and guaranteed by the company, providing an 8% fixed return, allowing the community to directly invest in — and share the benefits of — the region’s clean energy transformation. District heating systems are also being modernized with clean alternatives, guaranteeing that essential services remain affordable.
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