Two investment schemes, Helector SA, a member of the Ellaktor group, as well as a team comprised of Terna Energy and sister company Terna Aioliki Xerovouniou SA, have submitted binding second-round bids to an international tender staged by PPC Renewables for a strategic partner in the installation of power stations to utilize four geothermal fields.
The tender’s deadline for second-round offers expired on June 1. A total of six teams had expressed first-round interest.
Besides Helector and the Terna Energy-Terna Aioliki Xerovouniou team, Enel Green Power Hellas, France’s Storengy, KS Orka from Singapore, as well as Zorlu-Turboden, a Turkish-Italian joint venture, also participated in the first round.
PPC Renewables, a wholly-owned subsidiary of the main power utility PPC, is aiming for swift progress in its quest for a strategic partner and the establishment of a finalized partnership agreement as soon as possible.
PPC Renewables plans to establish a joint venture with its prospective strategic partner to develop geothermal power stations of at least 8 MW on Lesbos and 5 MW at each of the other locations.
PPC Renewables intends to soon launch exploratory drilling procedures at its own expense. These drilling endeavors are planned to run concurrently with the ongoing selection process for a strategic partner.
Officials at PPC Renewables believe the reluctance, if not outright opposition, of residents on some of the islands to the geothermal plan will subside once islanders are fully informed of technological advancements in the sector, preventing environmental impact. Locals reacted back in the 1980s against an initiative for the development of a geothermal field on Milos.