Greece’s DEPA Commercial picks contractors for PV plants of 500 MW

Construction companies Terna and Aktor are about to start building a solar power plant of 400 MW in northern Greece and another 100 MW near Larissa, for state-owned DEPA Commercial, according to a new report. In its switch toward cleaner sources, the gas holding has also finished the construction of its biomethane plant.

Greek state-controlled gas supplier, importer and trader DEPA Commercial has completed the tenders for photovoltaic parks of 500 MW overall, OT learned. The 400 MW facility in Kozani in the Western Macedonia province would currently be the largest in the country.

However, Lightsource bp, owned by BP, started the construction of a 560 MW solar park last summer in Central Greece and Thessaly. State-controlled Public Power Corp. (PPC or DEI) is about to finish a 550 MW photovoltaic facility in Ptolemaida, near Kozani.

DEPA Commercial is also known as DEPA Emporias (in Greek), DEPA Commerce and DEPA Trading. Both for the giant PV plant in northern Greece and another 100 MW in Farsala, Larissa, it selected the consortium of Terna, part of the GEK Terna conglomerate, and Ellaktor’s Aktor.

The turnkey deals are worth EUR 270 million in total

The turnkey agreements are worth a combined EUR 270 million. The company obtained a EUR 390 million loan in July from the European Investment Bank (EIB) for its photovoltaic projects. The portfolio amounted to 816 MW.

The projects, which are at various stages of maturity, are conducted under subsidiaries North Solar, North Solar 1 and New Spes Concept.

DEPA Commercial’s new move comes after the government bought a 35% stake from Helleniq Energy. The company is now fully owned by the Hellenic Republic Asset Development Fund (HRADF or TAIPED). The transaction was completed at the turn of the year, when the vehicle also integrated the so-called Superfund.

DEPA Commercial starts producing biomethane for its fuel stations

Within its energy transition efforts, the gas giant is entering biomethane production as well. DEPA Commercial said early this month that it produced Greece’s first quantities of the fuel.

The new pilot unit, Farma Hitas (Chitas) in Filippiada in the country’s west, makes 97% pure methane and compresses it. The bio-CNG goes to the company’s Fisikon gas stations, where it is mixed with natural (fossil) gas and sold as vehicle fuel.

Ownership stakes in Alexandroupolis gas complex, IGB pipeline

As for its conventional business operations, DEPA Commercial holds a 29% stake in special purpose firm Ilektroparagogi Alexandroupolis (Alexandroupolis Electricity Production). PPC is the majority partner, with 71%.

They are building a combined-cycle gas turbine (CCGT) of 840 MW. In addition, DEPA Commercial owns 20% of the Alexandroupolis LNG Terminal and 25% of ICGB, which operates the Interconnector Greece-Bulgaria (IGB) gas pipeline.

The company is participating in the Fier Thermoelectric project for a 174 MW gas power plant in Albania. DEPA Commercial intends to supply some of the renewable electricity that it generates to its wholly-owned subsidiary Fysiko Aerio – Hellenic Energy Co. The gas and electricity distributor has more than 530,000 customers.

Notably, DEPA Commercial already owns an aggregator license – FOSE, allowing it to trade in the wholesale power market on behalf of a group of producers.