Environment and Energy Minister Stavros Papastavrou on Friday described the recent four-billion-euro capital increase by the Public Power Corp. (PPC) as a “very significant development,” speaking at the Delphi Economic Forum XI.

He said the government fully backs PPC’s strategy, saying it is aligned with Greece’s national energy plan and positioning the ATHEX-listed company as a leading energy player in eastern Europe. The move is expected to strengthen energy security and support expansion into renewables, while also advancing investments in artificial intelligence and data centers.

Infrastructure for energy investments

Papastavrou stressed that infrastructure is critical for major energy investments, warning that without it Europe will struggle to replace Russian natural gas supplies. He noted that Greece is emerging as a key energy hub, serving a broader region of around 100 million people, with PPC, the dominant electricity utility in the country, playing a central role in this transformation.

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Papastavrou

Energy and Environment Minister Stavros Papastavrou, left, with OT editor-in-chief Christos Kolonas at the Delphi Economic Forum, on Friday, April 24, 2026.

Hydrocarbons

Regarding hydrocarbons, the minister said Greece is accelerating exploration after years of delays. He announced a first exploratory drilling in Block 2, south of Crete, that is expected to reach unprecedented depths. The site could potentially yield up to 10 billion euros in public revenue if commercially viable reserves are confirmed, while also boosting interest in other exploration areas.

Renewable energy

Additionally, Papastavrou highlighted that Greece added 3 gigawatts of renewable energy capacity over the past year, noting that this expansion helps stabilize electricity prices domestically.

Energy security

Addressing energy security, he said the country remains “shielded but not complacent,” citing ongoing coordination with refineries and market stakeholders. While no immediate risks are identified, he emphasized that uncertainty remains due to the volatile geopolitical environment.