The Board of Directors approved the business plan of its wholly-owned subsidiary, PPC Renewables S.A., at its meeting on 6-11-07. The business plan sets a target of 950 MW of installed RES capacity by 2014 at an estimated total investment cost of euros 1.952 million, to be partly funded by cash transfers totalling euros 330 million from PPC to PPC Renewables during the period 2008-2011.