Mitsubishi-Hitachi

Investment opportunities to be discussed in Abu Dhabi, Tokyo

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Deputy energy minister Gerassimos Thomas will be looking to discuss opportunities in Greece’s energy market during foreign trips this month, beginning with Abu Dhabi and followed by Tokyo.

The deputy minister is scheduled to attend an IRENA (International Renewable Energy Agency) annual conference this weekend in the capital of the United Arab Emirates.

A prominent event on the global RES agenda, the IRENA conference will give the Greek official an opportunity to meet with investors as well as European and American authorities.

Meetings have already been lined up with Estonian politician Kadri Simson, the European Commissioner for Energy, as well as Francis Fanon, the US Assistant Secretary of State and head of the country’s energy portfolio.

US interest in Greek privatizations, gas exports, as well as renewable energy projects is at a high, as was made clear to Prime Minister Kyriakos Mitsotakis during meetings in Washington this week.

Fanon has made regular trips to Athens over the past few months for meetings with government officials as well as officials at Greek and US companies, the focus being on the Greek energy market and its investment opportunities.

The IRENA conference comes not long after a Greek government decision placing emphasis on green energy.

Following the Abu Dhabi trip, the Greek energy deputy will be in Tokyo on January 25, joined by the Deputy Minister for Economic Diplomacy Kostas Frangogiannis and the Deputy Minister for Development and Investments Yiannis Tsakiris.

The Tokyo agenda includes meetings with officials at Mitsubishi, Hitachi and the Japan Bank of International Cooperation (JBIC). This bank, globally active with a focus on green energy investments, has shown strong interest in Greek projects.

During a visit to Athens last September, JBIC officials requested, from the Greek government, a list of projects deemed mature for financing.

Digitization projects at electricity distribution network operator DEDDIE/HEDNO, development of major-scale wind energy arms, installation of smart meters, as well as auto recharging stations are among the projects included on this list, according to sources.

JBIC’s foreign investment loans portfolio is worth 148.8 billion dollars, 17.2 percent of these projects being in Europe.

 

 

 

Post-lignite era fuel decision for Ptolemaida V next September

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Power utility PPC is expected to have reached a decision by next September on the fuel mix to be used at its prospective lignite-fired power station Ptolemaida V beyond 2028, when this facility’s lignite-based operation is planned to end and complete the government’s decarbonization process.

The decision is expected to coincide with next September’s planned launch for Ptolemaida V, currently being constructed as a lignite-fired unit. The government has announced a plan to withdraw all of PPC’s existing coal generators by the end of 2023.

PPC is now looking to make project adjustments at Ptolemaida V that will enable a fuel conversion at the facility for lignite-free operation beyond 2028. Natural gas, biomass and waste-to-energy incineration, even a combination of all three generation methods, have been included as possible options in state-controlled PPC’s new business plan.

The power utility has requested a study from Mitsubishi-Hitachi, constructing the Ptolemaida V project, on future fuel alternatives for the facility. Finalized decisions will be made once the study has been delivered.

PPC chief executive Giorgos Stassis, speaking at a recent general shareholders’ meeting, assured a decision will be made by September, 2020 once all alternatives have been examined for an optimal solution, both technically and economically.

Ptolemaida V, a project with a 0.61-GW capacity budgeted at 1.5 billion euros, is expected to post operating profit before interest, taxes and depreciation if CO2 emission right costs range between 30 and 35 euros per ton, Stassis has noted.