The Copelouzos group’s Damco Energy plans to soon start developing a combined cycle power station in northeastern Greece’s Alexandroupoli area with support from a major foreign energy company, not yet named, energypress sources have informed.

RAE, the Regulatory Authority for Energy, granted a license for the project just days ago. The Copelouzos group submitted its application in December.

The facility is planned to be linked to the prospective Alexandroupoli FSRU by a company-owned gas pipeline, meaning Damco Energy will avoid transmission costs as the gas grid operator DESFA’s network will not be needed. This should offer the power station a competitive advantage.

Though planned as separate projects, the Alexandroupoli FSRU, an LNG terminal, and the Damco Energy power plant promise to establish synergies as one unit will support the other.

The power plant’s operating costs and production capacity, planned to offer 662 MW over a 35-year period, promise to offer grid dispatch advantages, a related study conducted by the Copelouzos group has shown.

The project is seen contributing to Greece’s wider decarbonization effort and the intermediary role to be played by natural gas in electricity generation until renewable energy sources can fully take over.

The Copelouzos group plans to complete the combined cycle power station’s development in 27 months, while its commercial launch is expected early in the second quarter of 2022, following testing.