Power utility PPC has resumed talks with Terna Energy and the Copelouzos group for a consortium to develop RES projects on Crete, but work is still needed if institutional complications are to be resolved.
The plan’s viability will depend on whether the consortium – if formed – can secure a contract with power grid operator IPTO to ensure a capacity reservation in the prospective Crete-Athens grid interconnection.
Approximately three years ago, Terna Energy and the Copelouzos group decided to merge two respective wind-energy projects covering Crete’s four prefectures, which took their combined capacity total to 950 MW, in order to facilitate an EU funding effort.
PPC also entered the picture just months ago, prior to the pandemic’s outbreak, for talks on the establishment of a three-member consortium. PPC Renewables, a PPC subsidiary, possesses wind-energy capacity on Crete.
The prospective venture planned by the trio entails transmission and sale to the mainland of 1 GW generated by wind-energy facilities. Each partner would hold a 33.3 percent stake in this venture.