PPC acquires 216 MW pilot offshore wind project near Alexandroupolis

Public Power Corp. (PPC) is continuing to expand its investment program in various renewable energy technologies. The Greek utility said its green energy arm PPC Renewables would become the sole shareholder in a pilot offshore wind farm in Alexandroupolis.

PPC is taking over the Thrakiki Wind 1 project from Copelouzos Group and Samaras Group. According to the deal, Copelouzos stays on as developer until it is gradually paid in full, Newmoney reported.

The pilot project that PPC is entering has received a production license for 216 MW from the Regulatory Authority of Waste, Energy and Water (RAEWW). The Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) has already issued an exploration permit for the maritime zone, which extends south of the coastline of the Evros regional unit and north-northwest of the island of Samothrace (Samothraki). It is defined as an area for the development of pilot offshore wind farm projects with a total capacity of 600 MW.

Mavros: Another strategic move for PPC

While most future offshore wind farms in Greece are expected to be using floating technologies due to the depth of the Aegean Sea, this particular one will have towers with fixed bottoms.

“This deal is another strategic move for PPC to develop offshore wind in Greece, as well as proof of our commitment to achieve a long-term, green and socially beneficial growth,” PPC Renewables CEO Konstantinos Mavros said.

Acquisitions of mature projects continuing

PPC has set a goal of a 5 GW renewables portfolio by 2026. The group’s management aims to achieve it mainly through acquisitions of projects at a mature stage of development.

Recently, a deal with Intrakat Group was announced for the joint development of a portfolio of renewable electricity projects with a total capacity of up to 2.7 GW.

As part of the agreement, Intrakat Group will transfer six renewable energy projects in operation and under development, with a total capacity of approximately 164 MW, to PPC Renewables. At the same time, PPC Renewables is entering the ownership of Intrakat Group’s developing projects with a total capacity of 1.6 GW, with 49%.

Earlier this year, PPC acquired an 84 MW wind farm in Romania from Lukoil and also became the owner of Enel’s renewables portfolio in the country after buying out its local operations. One such large project under development is the 513 MW wind farm in the Banat area, on the border with Serbia, for which Enel Green Power Romania has received a connection permit.

Alexandroupolis becoming a regional energy hub

It should be noted that the wider area around Alexandroupolis, in Greece’s northeast, is among the biggest in the country in terms of wind power capacity. Specifically, the administrative region of Eastern Macedonia and Thrace hosted 534 MW at the end of June.

In recent years, the completion of various natural gas projects, such as the Trans Adriatic Pipeline (TAP) and Interconnector Greece-Bulgaria (IGB) has upgraded its significance not just for Greece, but also for neighboring nations. More recently, it was decided that the natural gas infrastructure between Greece and Bulgaria will be upgraded, while the new Alexandroupolis FSRU (floating storage and regasification unit) for liquefied natural gas or LNG is going to become the second entry point for liquified natural gas (LNG) in the country.

The FSRU arrived in Alexandroupolis earlier this month. It is expected to commence its operation by March. The ship has a capacity of 153.500 cubic meters. It will be connected to National Natural Gas System Operator’s (DESFA) natural gas network through a 28-kilometer pipeline. DESFA is also known as Hellenic Gas Transmission System Operator.

Around 70% of the FSRU’s gas will be directed to Bulgaria and other Balkan countries, diversifying their supply.