The new 840 MW power plant in Alexandroupolis, which is being jointly built by PPC (51%), DEPA Emporia (29%), and Damco Energy of the Kopelouzos Group (20%), is expected to be completed in 24 months at an investment cost of €400 million.

The three shareholders today provided an update on the progress of the project, noting the following:

Following the issuance of the building permit, the civil engineering works started immediately, while the construction of the main equipment of the plant (gas turbine, steam turbine, boiler, and generator) is already underway at the General Electric factories. As for the gas turbine, its assembly has been completed, and the gas-fired operation has been successfully carried out at the assembly plant.

The arrangement of the accompanying works, such as the transmission lines for the energy to be produced in the plant, the necessary 400 kV substations, and the connection for the supply of natural gas to the plant, is also in progress.

The station will supply energy to the domestic market and neighbouring countries. Direct lines to the High Voltage Centre (HV Centre) of Nea Sanda, among other places, where the new 400 kV line to Bulgaria terminates, will connect the plant to the National Electricity Transmission System. Thus, the station will also play a key role in the export of electricity to South-Eastern Europe, in particular to Bulgaria and North Macedonia and, by extension, to Serbia.

The new combined-cycle, natural gas-fired plant is being constructed on privately owned land of 181 hectares with an installed capacity of 840 MW and an annual production of 5 TWH. Natural gas will be used as fuel, but the new power plant will have the capacity for hydrogen combustion and mixed operation, which makes it compatible with and fully supportive of national and European planning for the gradual transition to green energy.

The thermoelectric power plant is in a "single shaft" configuration and has been designed with the highest efficiency of 63% for plants of this technology, which implies a high utilisation factor. The high efficiency will enable the new plant, in addition to lower fuel consumption, to have lower carbon dioxide emissions.

The power plant will be connected through ESFA (National Natural Gas System) and to the Floating Storage and Gasification Unit (FSRU) in Alexandroupolis, operated by GASTRADE, thus turning Alexandroupolis into an energy crossroads of electricity and gas networks.

At the same time, a new 400kV closed-type Extra High Voltage Center is planned and will be constructed near the new power plant, and expansion works will be carried out at the 400kV substation in Nea Santa Rodopi.