Egnatia expects strategic investment status for 1.5 GW in solar power

The Interministerial Committee of Strategic Investments of Greece put a 1.48 GW solar power plant plan filed by Egnatia Group on the list for consideration. The company developed projects for hundreds of photovoltaic units, estimating they would cost EUR 888 million in total.

Almost five months after Egnatia Group submitted documentation to Enterprise Greece, its proposal for a solar power plant network was accepted for review before the decision on the status. The Interministerial Committee of Strategic Investments, also a state agency, agreed to look at the plan to install hundreds of photovoltaic facilities.

The company estimates the 1.48 GW project could cost EUR 888 million and that the power plants could produce 2.15 TWh per year. The locations are in north and central Greece. The conglomerate wrote 240 permanent jobs would be created in total.

Egnatia focuses on Central Macedonia in solar power push

The Central Macedonia province dominates with half a gigawatt in 77 planned solar power plants, and Egnatia earmarked EUR 300 million through its subsidiary Egnatia Group IKE. Thessaloniki has a share in the budget of EUR 163 million for 271.7 MW and 52 sites.

Most of the land is private and designated as having a low productivity and the investor asked for part of the infrastructure to be constructed in public grassland and forest areas, according to the documentation. Egnatia secured the land, solved the ownership status and determined the budget for the design, installation and operation of the solar parks.

Construction phase brings 22,740 jobs

Some of the projects are in protected areas, so they require environmental impact assessments. The company said the photovoltaic plants would enable the reduction of carbon dioxide emissions by 1.92 million tons per year and that 22,740 people would work during the construction period.

Egnatia recently secured producer certificates for 12 solar projects with a total capacity of 86.8 MW.

Renewables among strategic investments

The committee gave 14 projects the strategic investment status since December. They are worth EUR 1.79 million and mostly in the tourism sector, but two are for renewables.

Notias – East PV, controlled by Total Eren, is planning photovoltaic units and wind farms of an overall 177 MW, worth EUR 172 million, while Consortium Solar Power Systems, owned by Solar Century from the United Kingdom, will install a solar power plant cluster of 284 MW and expenses are estimated at EUR 214 million.

Two green energy projects already secured the strategic investment status and three are under consideration

Two other endeavors are waiting for approval together with Egnatia. Kamaridis GlobalWire intends to build five wind farms with a total capacity of 120.3 MW. The projects are valued at EUR 121.2 million. Terna is prepared to install 18 wind power units in Karystos in the island of Evia, of 360 MW. The investments are estimated at EUR 585 million, Ypodomes reported.

The three projects that the Interministerial Committee of Strategic Investments of Greece is reviewing are worth a combined EUR 1.59 billion.