Elvalhalcor, the Hellenic Copper and Aluminium Industry, has been given approval by RAE, the Regulatory Authority for Energy, for a prospective 566-MW gas-fueled power station in Thisvi, Boetia, slightly northwest of Athens.

The industrial enterprise now intends to continue with its licensing procedure, which will require time, before making a final investment decision later on.

Factors to determine the investment decision include the outcome of a measure offsetting industrial carbon emission costs, currently being looked at by the European Commission; the shape of a CAT remuneration plan for gas-fueled power stations; as well as the target model’s implementation method and schedule.

PPC is also considering such factors ahead of a decision on the development of a gas-fueled power station, either independently or through a partnership.

“Capacity exists for one or two gas-fueled power stations in the country’s overall energy mix, but these will require financial support,” noted PPC chief executive Giorgos Stassis. “At this point, conditions are not clear. We’re all waiting for the regulatory framework.”