Helleniq Energy, formerly ELPE, and Edison are close to finalizing an investment decision for the co-development, by their Elpedison partnership, of an 826-MW CCGT, or gas-fueled power station, in Thessaloniki.

Elpedison’s shareholders are expected to reach an investment decision for the 826-MW CCGT in May, sources have informed. Preliminary work linked to this project has already begun at Helleniq Energy’s refineries.

This prospective CCGT was one of the first new-generation projects to have been licensed by RAE, the Regulatory Authority for Energy, back in 2019. However, despite the time that has since elapsed, the partnership’s shareholders had held back on an investment decision.

The country’s decarbonization plan, and its scope, was one issue that troubled company shareholders,

The Elpedison CCGT is fully licensed in terms of environmental, town planning and other requirements.

Despite its early licensing, other CCGT projects of the same class have jumped ahead and are already being developed in various parts of Greece.

The Mytilineos group has already launched an 826-MW CCGT in Agios Nikolaos, Viotia, northwest of Athens. GEK TERNA and Motor Oil have joined forces for an 877-MW Thermoilektriki Komotinis gas-fueled power station. More recently, power utility PPC, DEPA Commercial and Damco Energy reached an investment decision to develop an 840-MW gas-fueled facility in Alexandroupoli, northeastern Greece.