Terna Energy pumped storage station construction in October

Terna Energy has taken a final investment decision, worth 500 million euros, on the development of a pumped storage station complex in Amfilohia, northwestern Greece, whose construction is planned to begin in October and be completed within four years, the company’s hydroelectric projects director, Yioula Tsiknakou, has informed an IENE online workshop on energy storage.

The complex is planned to generate a total of 816 GWh, annually, and offer a total installed capacity of 680 MW (production) and 730 MW (pumping).

It will consist of two independent upper reservoirs, Agios Georgios and Pyrgos, with respective capacities of approximately 5 and 2 million cubic meters, and power utility PPC’s existing common lower reservoir, Kastraki Lake, developed in 1960.

Over 70 percent of the investment’s funds are planned to stem from the Greek market.

Its construction is expected to create approximately 1,200 jobs while a 100-member workforce will be employed once the unit is in operation.

Pumped storage stations are the most appropriate form of technology for mass energy storage, Tsiknakou, the Terna Energy official, told the IENE workshop.

Pumped storage stations are nowadays the most widespread mass energy storage solution, representing over 94 percent of installed energy storage capacity and offering total capacity of 161 GW around the world.

Upper limit for target model agreements a contentious issue

Imposing an upper limit on day-ahead market bilateral agreements has developed into one of the most contentious issues in the lead-up to the target model.

Opposing views were voiced, once again, last Friday at an IENE (Institute of Energy for Southeast Europe) conference.

Industrial sector officials fear the implementation of a single-digit upper limit, as requested by ESAI/HAIPP, the Hellenic Association of Independent Power Producers, would not provide industrial enterprises with enough space to reach agreements with power utility PPC as a means of covering their needs.

Imposing an upper limit on PPC’s forward contracts would cancel out the industrial sector’s accessibility to such products, EVIKEN (Association of Industrial Energy Consumers) board member Antonis Kontoleon told the IENE event.

The imposition of such a limit on PPC should be matched for all vertically integrated players, Kontoleon added.

Such a limit would prevent producers from establishing forward agreements with their own supply firms.

ESAI/HAIPP chief official Giorgos Stamtsis noted that the structure of the Greek market is characterized by the presence of one dominant company with exclusive access to lignite, major-scale hydropower facilities, as well as a very high market shares in the retail market, over 70 percent, as well as the wholesale market.

 

EDEY presenting five new fields in search for more investors

EDEY, the Greek Hydrocarbon Management Company, is seeking to draw an increased level of attention from petroleum firms for natural gas and oil exploration through five new offshore blocks, located in the Ionian Sea, off Crete and south of the Peloponnese.

The five blocks, ranging from 8,000 to 22,000 square kilometres in size, were presented yesterday by EDEY chairman Yiannis Basias at a workshop organized by IENE, the Institute of Energy for Southeast Europe.

EDEY has reprocessed related seismic survey data concerning these five blocks and plans to present findings at international conferences and meetings with the objective of generating the interest of oil majors.

The Greek hydrocarbon company’s latest initiative comes at a time of elevated activity among southeast Mediterranean, Black Sea and Adriatic countries, all staging tenders for blocks or conducting surveys and drills.

Global oil industry players have turned their attention to the wider region. Total, ExxonMobil, Repsol and Edison have already established a presence on Greek territory. EDEY is hoping to add to the list.

RES potential and electricity network challenges pointed out by IENE head

Renewable energy sources, which have made their presence felt in the current decade as a result of technological advancements, are expected, along with large-scale hydropower facilties, to represent the main source of energy in the world before 2050, reducing the role of fossil fuels, especially coal, and to a certain degree, fuel, Yiannis Hatzivasiliadis, President of IENE, the Institute of Energy for Southeast Europe, notes in an article appearing in Greek Energy 2017, an annual energypress industry publication.

Besides their zero-level CO2 emissions, renewable energy sources offer energy supply security and competitive costs as a result of new technologies being introduced, the IENE chief notes in the Greek Energy 2017 article.

The increasing penetration of renewable energy sources is transforming the energy sector, including electricity networks, he notes.

The IENE president states that major RES penetration, even as much as one-hundred percent, does not represent a utopian thought, pointing out that certain countries have already made such achievements. He mentions Iceland, whose hydropower and geothermal production have led to 100 percent RES penetration, Norway’s 97 percent, courtesy of its hydropower generation, Georgia’s 85 percent, also through hydropower generation, Brazil (76%) and Austria (70%) as notable examples. Certain countries not endowed with rich hydropower and geothermal potential are in a position to utilize their high solar and wind potential, Hatzivasiliadis writes, framing Greece.

Greece’s many islands and heightened RES potential represent the biggest challenges and opportunties for renewable energy penetration into the country’s energy mix during the 21st century, the IENE heads points out.