Investments in Region of Thessaly serve as a catalyst for the growth of the area

A landmark connection contract of 17 M. Νm3 with “Hydranthos”

The agreement between EDA THESS and “Hydranthos” for the connection of the new Hydroponic Cultivation Greenhouse Unit to the distribution network of EDA THESS leads to a record high, increasing the distributed natural gas volumes by 17 million Nm3 annually. The strong investing activity in the Region of Thessaly serves as a catalyst not only for the growth of the broader area but also for the strengthening of the productive fabric of the whole country.

The newly established company “Hydranthos Single Member Private Company“, owned by the US company “Aurarius Investment Group” based in Washington D.C., is proceeding with the construction of a high-tech greenhouse plant for the cultivation of hundreds of acres of tomatoes in Almyros, Magnesia.

Hydranthos will use natural gas in a new High-Efficiency Combined Heat and Power (CHP) unit with a total capacity of 10 MW to cover its energy needs in terms of electricity, heating/cooling and carbon dioxide. The greenhouse unit is expected to be fully operational in 2025. The investment has been included in the submitted 2022-2026 Development Program and the Business Plan of EDA THESS.

The Company’s consistent implementation of sustainable investments based on technical and economic efficiency criteria generates multiple benefits for the business and economic activity of the Licensed areas. The productive sector and industries benefit from the use of natural gas as they take advantage of the continuous and uninterrupted supply through the distribution network that enables them to plan and manage their production activity in an optimal manner. At the same time, the increased industrial consumption rates recorded both in the Regional Unit of Thessaloniki and the Region of Thessaly, contribute to the increase of the distributed volumes, enhance efficiency and ensure the long-term viability of the distribution network.

According to the statements of the CEO, Mr. Mario Rizos, Aurarius Investment Group and “Hydranthos” intend to develop a portfolio of high-tech, innovative hydroponic units combined with energy plants throughout Greece, focusing on the cultivation of high-quality vegetables and aiming at strengthening local communities while ensuring good financial results.

Hydroponic greenhouses are sophisticated production units that operate more efficiently with the use of new technologies. The key components of their production process are heat and carbon dioxide – both of which are by-products of Cogeneration of heat and power-. Cogeneration technology can typically recover through inverters – more than 80 % of the heat produced. In addition to using recovered heat, cogeneration is also beneficial to the environment, as it increases energy efficiency and reduces emissions into the atmosphere. In addition, cogeneration can save up to 30% of fuel compared to conventional “separated production” of heat and power.

From his part, the General Manager of EDA THESS, Mr. Leonidas Bakouras pointed out that innovative natural gas technologies and CHP units are the ideal solution to improve energy efficiency and achieve decarbonisation of the industrial sector. In the same context, the future injection of renewable gases with reduced or zero carbon footprint and the optimized use of the grid thanks to the digitization of the distribution infrastructure will provide the necessary flexibility to manage demand, enhancing the resilience and sustainability of the energy system; concepts that are directly linked to the fulfillment of the medium-term (2030) and long-term (2050) energy and climate goals.

EDA THESS, fully consistent with its strategic planning, continues the implementation of its development programs to expand the use of natural gas, with utmost care for safety, sustainability and environmental protection.

Pictured are: Mr. Mario Rizos, CEO of Aurarius Investment Group, Mr. Leonidas Bakouras General Manager of EDA THESS, Ms. Kalogirou Efthymia Manager of Natural Gas Market Development for Thessaly and Ms. Katerina Liakou, Lead Developer of Aurarius Investment Group in Greece