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

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Published:

August 6, 2021

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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.

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