Electricity

China wants in on Crete power link, joins Minos solar project

Minos CSP Crete

Photo: Nur Energie

Published

November 14, 2019

Country

Comments

0

Share

Published:

November 14, 2019

Country:

Comments:

0

Share

China’s president Xi Jinping left Greece with 16 bilateral deals, after an official three-day visit, where the focus was placed on the most populous country’s massive Belt and Road Initiative for infrastructure, manufacturing and trade across Asia, Africa and Europe. The projects include the interconnection cable which is planned to be installed between Crete and Attica and a 50 MW concentrated solar power or CSP facility on the island.

Other agreements covered the framework for investment on the bilateral level, media, sports, transport, education, banking and agricultural products. On November 11, at the start of Xi’s return visit, his government expressed interest in purchasing a 20% stake in Ariadne. The endeavor worth EUR 1 billion is for two 328-kilometre high voltage direct current (HVDC) cables under the Sea of Crete and the Myrtoan Sea.

The entity is a subsidiary of Independent Power Transmission Operator SA, also known as IPTO or ADMIE. The project, aimed to be completed by 2023, would be joined by State Grid Corp. of China, according to the document. Chairman Wei Kou represented SGCC, which controls 24% of ADMIE.

Separately, it said it wants to boost the share. Wei met with Greek minister of energy Costis Hatzidakis and the transmission system operator’s chairman of the board and chief executive Manos Manousakis. SGCC has the preferential right to buy any stake that would be divested of.

The world’s second-largest economy agreed to cooperate in the construction of the Minos CSP power plant in Atherinolakkos near Sitia in the island’s east. It was developed by Nur Energie Ltd., which obtained the electricity licence in 2011. Minos stands for Minimum Intermittency Operating System. The deal was signed by Industrial and Commercial Bank of China Ltd. (ICBC), Energy China Group and construction firm Preneton Co. from Greece.

China Gezhouba Group International Engineering Co. Ltd. and Zhejiang Supcon Solar Technology Co. Ltd. are taking responsibility for EPC or engineering, procurement and construction. The solar power plant, covering 160 hectares in total, is designed to include a five-hour molten salt heat storage system.

It was the first time China’s current head of state came to Greece. Prime minister Kyriakos Mitsotakis went to China one week before. Xi asserted they are “natural partners” in the Belt and Road Initiative. Of note, Bank of China Ltd. is establishing a branch in Athens and ICBC is setting up a representative office, the two countries said.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Renera-kicks-off-50-MW-floating-solar-power-project-Romania

Renera kicks off 50 MW floating solar power project in Romania

24 April 2024 - Renera Energy is developing a 50 MW floating photovoltaic project in Romania. It would now probably be the biggest in Europe.

Renewables-Greece-get-shortcut-grid-connection-PPAs

Renewables in Greece get shortcut to grid connection with PPAs

23 April 2024 - Renewables projects in Greece with PPAs with energy-intensive industrial consumers get priority in the transmission grid connection queue

Brite Solar agrisolar panel plant Greece 2024

Brite Solar to complete agrisolar panel plant in Greece by end-2024

23 April 2024 - Greek startup Brite Solar is building a production line in Patras for transparent solar panels for agrivoltaic production

green wolt scotland floating wind farm

Green Volt, world’s largest floating wind project, obtains planning approval

23 April 2024 - The project has now received all its planning approvals and remains on track to be the first commercial-scale offshore wind farm in Europe