Hellenic Petroleum set to finance new solar plant in northern Greece

·

Greece’s biggest oil refiner, Hellenic Petroleum, said on Monday it will finance and operate a 204 megawatt solar energy plant in northern Greece to tap into the country’s shift from coal to renewables.

Last year Greece announced an ambitious plan to shut down almost all its coal-fired power plants by 2023 and shift more to renewables. Most of its coal-fired plants are based in northern Greece and the government has announced a series of actions, including renewable energy projects and funds to make up for job losses in that region.

Hellenic, which is 35 percent state owned, already operates solar and wind energy facilities in Greece. It said it will invest 130 million euros ($141 million) in the plant in Kozani, northern Greece, which will be built by Germany’s Juwi. It is expected to start operations in the final quarter of 2021, the company said.

Greece plans to boost renewables to 35 percent of its energy consumption by 2030 from 19.7 percent this year, hoping to generate investment worth about 44 billion euros.

Hellenic, with three refineries of a total 344,000 barrels per day capacity, operates 26 megawatt of solar and wind parks in Greece. It wants to add another 300 megawatt of renewables to help in the country’s transition to clean energy.

Sourced by: Reuters

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Greek tomato growers angered amid fruit virus outbreak in SA

Prominent South Australian tomato growers Harry Kapiris, Peter Petsios and Emmanuel Cafcakis have criticised the handling of a tomato virus.

Elon Musk endorses Cypriot MEP Fidias Panayiotou for EU leadership

Elon Musk has endorsed Cypriot MEP and YouTuber Fidias Panayiotou for the European Union presidency in a post on X.

Greek authorities reveal major fraud attempt involving 45 plots of public land

Authorities recently discovered a significant land fraud scheme on the Greek islands of Hydra, Spetses and Agistri.

Maria and Arthur: A second generation Greek Australian love story

Maria, Arthur and I grew up together in a working-class, inner-city suburb of Melbourne. This was in the late 1970s and early 1980s.

Greek series ‘Maestro in Blue’ returns for third season

Nearly two years after its debut and rise to Netflix's top 10, Maestro in Blue is set to return with its third season.

You May Also Like

The surprising history and cultural value of Carnival in Greece

Carnival celebrations in Greece vary notoriously across the country. Different regions, ascribe significance to various aspects of them.

$11 million capital raising under way for George Giannakodakis’ PointData company

George Giannakodakis' property technology company, PointData, intends to raise $11 million by June to accelerate their expansion plans.

Kytherian Association of Australia set to officially launch their centenary celebrations

The Kytherian Association of Australia will officially launch its 100th anniversary celebrations on March 26 at the National Maritime Museum.