Renewables

Greece fast-tracks renewable energy projects worth over EUR 2 billion

Greece renewable energy worth EUR 2 billion

Photo: Sungrow EMEA on Unsplash

Published

December 23, 2020

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Published:

December 23, 2020

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Plans for wind and solar power units with a combined capacity of 2.81 GW obtained strategic investment statuses. Greece approved renewable energy projects developed by Egnatia, Terna Energy, Kamaridis and Karatzi with a total budget of more than EUR 2 billion.

The Interministerial Committee of Strategic Investments decided to accelerate the licensing procedure for four major green projects for the production of electricity. The companies behind them are developing renewable energy plants in Greece with a total budget of EUR 2.02 billion and an overall capacity of 2.81 GW.

Photovoltaics dominate added strategic investments

Egnatia Group earmarked EUR 888 million for photovoltaic units in the Balkan country’s 12 regional units. The solar power plants in north and central Greece should reach a total of 1.5 GW. The company said in the documentation that the project would create 240 permanent jobs, defined as continual employment over one year.

Egnatia Group is building solar power plants with a combined capacity of 1.5 GW

Karatzis, a hotel developer and operator and a producer of packaging materials, received a national strategic investment status for its project for 37 photovoltaic units of an overall 830 MW. It is worth an estimated EUR 422 million and should create ten permanent jobs after the solar power plants are commissioned. The locations for the renewable energy facilities are in Larissa and Magnesia in central Greece and Kilkis in the north.

Terna Energy gets green light to expand wind power portfolio in Evia

Terna Energy is developing 18 wind power plants of an overall 360 MW in Karystos on Evia island. The endeavor is worth EUR 585 million. It includes a future undersea cable of 69 kilometers leading to Attica. The utility said the project would ultimately provide 18 jobs.

A chunk of the Karystia project is apparently from the 270 MW portfolio of licensed projects that the subsidiary of GEK Terna bought from RF Energy earlier this year, Euro2day reported. The wind power complex will enable annual carbon dioxide emission savings of 1.2 million tons, the news outlet added.

Kamaridis GlobalWire intends to install five wind power plants with a total capacity of 120.3 MW in Xanthi and Rhodope in the northeast of Greece. It estimated the project at EUR 121 million and expects to employ 36 people on a full-time basis.

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