PPC Renewables plans to start developing two of four geothermal fields to which the company holds exclusive exploration and utilization rights with ventures on the island Lesvos and Methana, a peninsula in northeast Peloponnese.
These starting choices, where geothermal exploration work is believed to be imminent, have a purpose. Locals on Milos and Nisyros, two other spots also being eyed, both object to geothermal development. Back in the 1980s, islanders on Milos strongly reacted against a geothermal development plan, fearing its environmental impact. However, PPC Renewables officials are now hoping this resistance of the past will ease once islanders are fully informed of technological advancements in the sector.
Besides Lesvos and Methana, PPC Renewables also intends to develop geothermal fields on Nisyros, as well as the island complex of Milos, Kimolos and Polyaegos, the Aegean Sea’s largest uninhabited island.
PPC Renewables plans to establish a strategic partnership with Helector SA, a member of the Ellaktor group, for these ventures. Helector, the winning bidder in a related tender, is expected to hold a 51 percent stake in its joint venture with PPC Renewables.
A wholly-owned subsidiary of the main power utility PPC, PPC Renewables is anticipating the signing of a ministerial decision by the energy ministry before it proceeds with the formation of its partnership with Helector.
PPC Renewables plans to develop an 8-MW geothermal power station on Lesvos and 5-MW geothermal facilities at each of the other locations.