A shareholders’ agreement has been executed for one of Greece’s largest energy investments, valued at around 600 million euros. This agreement involves Clavenia Ltd, DEPA Commercial S.A., EUSIF Larissa S.A., and Volton S.A., who will collaborate in LARISSA THERMOELICKI S.A.
The company will develop a natural gas-fired power generation unit with a net capacity of 792 MW, located in the Larissa Industrial Area.
All necessary permits have been obtained, allowing construction to proceed following the shareholders’ Final Investment Decision (FID).
This new facility is anticipated to be Greece’s most efficient combined cycle gas turbine (CCGT) plant, boasting a net thermal efficiency of 62.6%, powered by Mitsubishi Heavy Industries’ state-of-the-art M701JAC technology.
DEPA Commercial S.A. will serve as the energy manager and will handle the commercial supply of natural gas needed for the operation of the unit.
Following the agreement’s signing, Stavros Papastavrou, Minister of Environment and Energy, remarked: “This significant investment is crucial for both Larissa and Thessaly, as well as for the country as a whole. It marks the establishment of a new natural gas-fired electricity generation unit that will create jobs, enhance competition, and lead to lower electricity prices for consumers.
This strategic investment is vital for our nation’s energy security and will elevate Thessaly’s position on both the national and European energy landscape. We are committed to supporting initiatives that foster the energy transition towards a sustainable development model, benefiting both people and the environment.”
