Greece and Israel signed on Wednesday a mega deal for a natural gas-fired power plant in Larissa.
The shareholders’ Agreement was signed for the implementation of one of the largest energy investments in Greece, totaling approximately 600 million euros, for the creation of a natural gas-fired power plant in Central Greece.
The agreement was signed between the companies Clavenia Ltd, DEPA Emporias S.A., EUSIF Larissa S.A. and Volton S.A., for their joint participation in LARISSA THERMOELICIKI S.A.
The company is developing a natural gas-fired power plant, with a net capacity of 792 MW, in the Larissa Industrial Area. The project has received all the necessary permits and is ready to proceed with construction, following the Final Investment Decision (FID) of the shareholders.
The new unit is expected to be the most efficient combined cycle power plant (CCGT) in Greece, with a net thermal efficiency of 62.6%, utilizing advanced Mitsubishi Heavy Industries technology, specifically the M701JAC type.
DEPA Trading S.A. will assume the role of energy manager, as well as the commercial supply of natural gas for the operation of the unit.
After the signing of the agreement, the Minister of Environment and Energy, Stavros Papastavrou, stated that this is a significant investment for both Larissa and Thessaly, as well as the country as a whole.
“This is a new natural gas-fired electricity generation unit. A unit that will create new jobs, strengthen competition and lead to lower electricity prices for consumers. A strategic investment for the energy security of our country, which upgrades the role of Thessaly on the national and European energy map. We support every initiative that promotes the energy transition towards a sustainable development model. A model that serves both people and the environment,” minister Papastavrou said.
On his part, Israel’s Energy Minister Eli Cohen welcomed “the creative and efficient collaboration between Israeli and Greek investors for the development of an advanced energy project in Greece, utilizing leading Israeli technology while respecting the environment.” [source: topontiki.gr]
PS And this is the answer to the question why Greece did not join in the last few days either the 22 countries demanding from Israel to allow humanitarian aid to starving Gaza or the voted in favor of the EU decision to review trade relations with Tel Aviv.
Worth noting that today even conservative newspapers have criticized the Mitsotakis government for its distanced stance to the plight in Gaza.
No wonder, PM Mitsotakis calls on Israel today, Thursday, to halt Gaza strikes and allow aid through.
Clavenia Ltd. is the Israeli partner. a subsidiary of Aroundtown SA registered in Luxembourg, both companies specialising in high end real estate…..NOT
electricity generation. FYI.
>22 countries demand Israel allow “full resumption” of Gaza aid; Greece not among them
>Greece not among EU states backing “trade review” with Israel
Ah.
This has to be seen in the wider context of Greek, Cypriotic and Israeli cooperation in the explotation if the various gas fields in the Eastern Mediterranean. The EU lifted sanctions against Syria so now the Qatari gas pipeline can be laid in Syria. Gas that will also go to Europe via Turkey. If Assad had agreed to that 15 years ago, he would still be in power today. Never mind that Christians, Druze and Alawites are now being persecuted in Syria. Because the spice must flow and Russian gas has to be replaced with gas from other places. So, one the one hand, the EU rightfully condemns Israel. On the other hand, however, it rewards headchoppers in Syria.
There will be kickbacks of course.