The three major energy investments of 2022

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By Harry Floudopoulos

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The arrival of the new year marks for the energy sector the start of three major investments that are expected to change the market landscape. These are emblematic projects, each of which has its own special significance and is expected to have significant positive effects for the industry.

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The reason for the new power plant with natural gas of Mytilineos, the new large photovoltaic park of Hellenic Petroleum and the interconnection Crete – Peloponnese, which will be fully integrated into the system from this year.


The new 826MW power plant of Mytilineos, the first power plant of the metallurgical era, is expected to start operating in the first quarter of the new year. The state-of-the-art plant with an efficiency of 63.5% will produce about 10% at current prices of the country’s energy demand and is projected to cover almost 50% of the electricity coming from lignite plants during 2020.

In terms of environmental footprint, the new unit will produce 250 kg of CO2 per megawatt hour produced, when a lignite unit produces from 1.2 to 1.5 tons of CO2 per megawatt hour, ie 6 times more than the new Mytilineos unit.

The new unit will lead to the total production capacity of Mytilineos at 1.6GW without counting the part of RES. This means that about 20% of the electricity demand in the country will be covered by the energy center in Agios Nikolaos, Boeotia, which is becoming a key production pillar for the domestic electricity system.


Within the first quarter of 2022, the start of operation of the new 204MW photovoltaic park in Kozani of Greek Petroleum is expected. This is the largest photovoltaic project in the Greek market and one of the largest in Europe, the construction of which took place in less than two years.

The project is expected to add to the balance sheet of ELPE a stable profit of 20 million euros per year while it will produce 300 GWh, energy capable of supplying 75 thousand households, ie the population of Western Macedonia.

At the same time, it will lead to the avoidance of carbon dioxide emissions equal to the contribution of 1.1 million hectares of forest. It is recalled that the project was acquired for 130 million euros by the German Juwi and is a milestone project that marks the new strategy of Hellenic Petroleum that includes the group’s entry into new energy activities, while of course improving the competitiveness of its core business. refining.

Small Interconnection of Crete

The project of the Crete-Peloponnese Interconnection was completed in 2021, however the first year that it will be fully integrated in the electricity system, with all the side benefits it entails will be in 2022.

It is one of the largest AC interconnection projects in the world, as it reaches a length of 174 km, while the maximum immersion depth reaches 1009 meters. The so-called “small Interconnection” covers about one third of the energy needs of Crete in electricity, providing a solution to the energy problem of the largest island in the country. The new 150kV AC interconnection (transmission power 2×200 MVA) replaces the production of the older local units which are the most expensive and polluting.

The total cost of the flagship project, which reached 397 million euros, was covered by co-financing from Greece and the European Union and borrowed from the European Investment Bank (EIB).


Source From: Capital

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