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Greece inaugurates major energy storage facility in Thessaly
METLEN and the Karatzis Group have launched a large battery storage installation in Larissa to support grid stability.
Key points
- The new facility features a 330MW power capacity and 790MWh storage capability.
- The Karatzis Group holds a 51% stake in the project, with METLEN owning 49%.
- Financing included loan support from the European Union Recovery and Resilience Facility.
Project launch
Power Technology reported that Greece has commissioned a stand-alone battery energy storage system located in Larissa, within the Thessaly region. Prime Minister Kyriakos Mitsotakis and Environment and Energy Minister Stavros Papastavrou attended the inauguration ceremony alongside other officials.
The installation was developed through a joint investment vehicle shared between the Karatzis Group of Companies and METLEN. Karatzis holds a majority interest of 51%, while METLEN retains the remaining 49% stake. METLEN managed the construction, operation, and maintenance of the site.
Grid integration
According to the companies involved, the infrastructure aims to improve the flexibility and resilience of the Greek electricity network while facilitating the integration of renewable energy sources. Financing for the initiative was supported by loans from the European Union Recovery and Resilience Facility, known as NextGenerationEU.
Prime Minister Mitsotakis stated during the event that the installation represents an important step for national energy security and future competitiveness. METLEN executive chairman Evangelos Mytilineos described the site as a significant asset for the regional European energy market.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Exchange rates and the cost of capital shape every energy project, especially in emerging markets where equipment is priced in dollars.
₦1,331.19 per US dollar, reference rate todayCountries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
