Greece declares solar-hydrogen project with batteries its first flagship investment of exceptional importance

Hive Energy has earmarked EUR 226.4 million for the construction of a 200 MW solar power plant in Greece with batteries and a green hydrogen production unit. The government has awarded it the status of a flagship investment of exceptional importance, the first in the country.

The Interministerial Committee of Strategic Investments of Greece has approved the application for a project called Bluesky300, which is envisaged to combine solar power with battery storage and an electrolysis facility. In accordance with a recent law, the panel declared it the nation’s first flagship investment of exceptional importance.

It means it would be put on a fast track when it comes to permits, in addition to the prestige that can open the way for funding. The committee is responsible for projects submitted to state agency Enterprise Greece.

The budget amounts to EUR 226.4 million, according to the announcement. Facilities that combine the production of electricity from more than one source or have energy storage units are called hybrid power plants.

Hive Energy counts on strong green energy potential in Southeastern Europe

The project was launched by Hive Energy, based in the United Kingdom. The renewable energy company, established in 2011, operates in more than 20 countries including Croatia, Turkey, Bosnia and Herzegovina, Serbia and Montenegro. There is almost 3.8 GW in its project pipeline in the region tracked by Balkan Green Energy News.

Hive Energy has 3.8 GW in the project pipeline in the Balkans

Its activities include carbon capture and utilization as well as the development of solutions for the use of industrial byproducts to create sustainable building materials. Hive Energy is also involved in a venture that is developing a compostable polymer from shellfish waste.

Bluesky300 is planned to comprise a solar power plant of 200 MW, lithium ion batteries with a combined 100 MW in operating power and a 50 MW electrolyzer for the production of 16 tons of green hydrogen per day. The photovoltaic segment will be in the form of a cluster of individual units.

Innovative green projects are key to overcoming energy crisis

The status of a flagship investment of exceptional importance was awarded for promoting the green economy, innovation, energy savings, decarbonization, cutting the environmental footprint and phasing out gas and oil, officials said and highlighted the role of such projects in tackling the energy crisis.

The investment will create 442 full-time jobs during the construction period and 24 permanent positions, the file showed. The project firm was founded in February of last year.