Renewables

Greece fast-tracks two PV projects worth half billion euros in total

Greece fast tracks two photovoltaic projects EUR 535 million

Group Theta

Published

August 6, 2021

Country

Comments

comments icon

0

Share

Published:

August 6, 2021

Country:

Comments:

comments icon

0

Share

The government in Athens awarded strategic investment statuses to Enipeas’ proposed 700 MW solar power plant, worth EUR 350 million, and a cluster of 52 photovoltaic units under development by Karatzis. The company earmarked EUR 184.5 million for the 362.75 MW project.

The Interministerial Committee of Strategic Investments of Greece accepted the applications by the developers of two solar power projects to state agency Enterprise Greece for a combined 1.06 GW in capacity, mostly in Thessaly. They are worth EUR 535 million in total.

Strategic investments are implemented by either the government or private companies or through public-private partnerships. When they get the status, they enter a so-called fast-track procedure and have the opportunity to use different incentives. The minimum value for strategic investments is EUR 100 million and at least 30 so-called annual work units must be created.

Group Theta is in rapid expansion

The larger of the two projects is a 700 MW peak capacity photovoltaic plant that Enipeas intends to build in Thessaly. It submitted the application in early December.

The giant solar power plant would be located in Skopia and Kallithea in the municipality of Farsala. The documentation shows the maximum production capacity would be 630 MW, translating to an estimated 1.02 TWh in annual output.

Enipeas’ photovoltaic plant is planned for a peak capacity of 700 MW and an annual output of more than 1 TWh

The company said the project includes an energy storage system in Larissa. It plans to hire 1,100 people for the construction while the solar power plant would permanently employ 38 workers.

Enipeas was founded in June of last year by Ioannis Theodorakis. Newmoney reported the firm registered in Herakleion in Crete is a member of the Theodorakis family’s Group Theta, active in the construction sector and the development of wind, solar and energy storage systems.

The conglomerate said it has licenses for 1.63 GW in photovoltaic projects in Central Greece. It built a range of small solar power plants in the country and one 350 kW rooftop system in Germany. Theta said it installed three photovoltaic plants in Turkey with a combined capacity of 8.2 MW.

During the submission phase for the 700 MW project, Enipeas said it would involve construction group Archirodon.

Karatzis wins strategic investment status for its second giant project

After late last year it got a strategic investment status for 37 units of an overall 830 MW, the Karatzis Group and its Chairman and Chief Executive Officer Antonis Karatzis now managed to expand its presence in the first-tier national portfolio with 52 solar power plants of 362.75 MW in total capacity.

The endeavor is worth EUR 184.5 million, according to official documentation. The application was filed with Enterprise Greece in November.

Karatzis said the photovoltaic units would span almost 550 hectares. They will be located in in Kilkis, located north of Thessaloniki, and in Larissa, Thessaly.

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

croatia ina eon ppa virje solar

INA, E.ON sign power purchase agreement in Croatia

10 July 2025 - Croatian oil and gas company INA and German energy firm E.ON's local subsidiary signed a PPA for electricity from renewable sources

Solar beats nuclear in June becoming EU biggest electricity source first time

Solar beats nuclear in June, becoming EU’s biggest electricity source for first time

10 July 2025 - Solar was the EU’s largest source of electricity for the first time in June. Records for photovoltaics and wind rolled in in May and June

Cyprus curtails renewable electricity first half 2025 whole last year

Cyprus curtails as much renewable electricity in first half of 2025 as whole last year

09 July 2025 - Curtailments of renewable electricity in Cyprus topped 167 GWh in the first six months of 2025, equivalent to last year's entire cuts

romania energy storage anre double taxation

Romania ends double taxation of energy storage

09 July 2025 - The National Energy Regulatory Authority has approved the regulation on the elimination of double taxation of energy storage