Greece, PPC, DEPA and Damco Energy signed deal on the construction of Alexandroupoli gas-fired plant

, SEE Energy News

Public Power Corporation (PPC), DEPA Trade and Damco Energy (part of the Copelouzos Group) have signed an agreement for the purchase of a 51 % share by PPC in Electroparagogi Alexandroupolis Monoprosopi, a company planning to build and operate an 840 MW gas-fired power plant in Alexandroupoli.

At the same time, DEPA Trade will acquire 29 % stake, while Damco Energy will retain a 20 % stake in the company. Construction of the new plant is planned to begin in the first quarter of 2023 and to be completed in 2025.

The plant is set to be the most efficient in the country, with an efficiency rate of 63 %, and will be able to get natural gas directly from the FSRU in Alexandroupoli, while it is strategically positioned near the IGB pipeline and linked to the Nea Santa high-voltage substation, which is ideally placed for electricity exports to neighboring countries.