ATHENS – Building a Liquefied Natural Gas (LNG) plant in the burgeoning port of Alexandroupolis in northern Greece will create enough power to export to the rest of the Balkans and help meet European Union Green Deal targets, officials said.

Prime Minister Kyriakos Mitsotakis was at the ceremony kicking off the project, along with the principles of three major energy groups in Greece taking part, the state-owned Public Power Corporation (PPC) as well as DEPA Commerical and Damco Energy of the Copelouzos Group, said LNG Industry.

Energy Minister Kostas Skrekas, as well as his emeritus from Bulgaria, Rosen Hristov, and Erik Holmgren, Economic Officer of U.S Embassy at Greece, also attended the ceremony, the report said.

The power plant will be directly connected to Gastrade’s Floating Storage Regasification Unit SRU, which is currently under construction, further turning the port into a junction of electricity and natural gas networks.

That would mean enough supply for neighbouring countries in Southeastern Europe once it’s operational, expected by the end of 2025. It will be of combined cycle type and will have an installed capacity of 840 MW, which is approximately the net capacity of three lignite plants currently being decommissioned. Due to its high efficiency, it will ensure seamless electricity supply at low price levels.

Copelouzos Group CEO Christos Copelouzos, said: “We are here to welcome a project that is changing the energy landscape: Greece is now shielded, it acquires energy sufficiency …  a new energy pillar is being created for Southeastern Europe, as our country will be able to export electricity to the neighbouring Balkan states; to Bulgaria, North Macedonia, and even Serbia.

PPC CEO Georgios Stassis, said too: “The new Alexandroupolis power plant, the construction of which we are inaugurating today, is the result of the creative collaboration between the PPC Group and two important partners, DEPA Commercial and the Copelouzos Group, with the aim to contribute to the consolidation of the country’s role as a strong and, why not, an exporting productive player in the wider region of Southeastern Europe.”

DEPA Chairman Ioannis Papadopoulos, also added: “Today is an important milestone, both for DEPA Commercial and the major energy groups we joined forces with for the implementation of the investment, as well as for Alexandroupolis, Greece, and Southeastern Europe. With the Alexandroupolis Power Plant, Greece acquires another crucial project that will contribute to the continuous supply of more cost-effective energy. At the same time, our country also has a new gateway for the transition to green energy, as the combined cycle plant will balance the system, allowing greater penetration of RES in the energy mix.”