The start of construction of a new one is at the final stage natural gas power plant in Alexandroupoli. Its boards of directors checkpoint And her DEPA yesterday they made the final investment decision to enter Company “Alexandroupolis Energy” with percentages of 51% and 29% respectively. With a 20% stake, Damco Energy of the Kopelouzos group participates in the company, which was also responsible for the initial plant design. Yesterday, the first general meeting of the shareholders of Alexandrupol Electric Power Generation took place, at which decisions were made to conclude loan agreements with banks and start construction of the facility.

The division, according to DEPA Emporia sources, will have access to very low competitive financing costs (project finance without collateral) and the ability to borrow up to 80% of the investment value. Given that the investment value is 395 million euros, the equity requirement is limited to 80 million euros. According to the same sources, the return on equity will be over 10%, profitability will be strong, annual EBITDA will exceed 100 million euros in the first year of operation, and the payback period of investments will be short.

Yesterday PPC and DEPA made a final investment decision to join Alexandroupolis Energetika.

PPC and DEPA have also signed Bilateral Contracts (PPAs) for a new energy absorption plant. DEPA, according to company sources, will provide a competitive cost of electricity for its retail subsidiary Fisiko Aerio (formerly EPA Attica) with a bilateral contract, since the unit will be cheaper than thermal ones.

The 840 MW unit with 63% efficiency is located at a junction on the natural gas route and will be able to supply natural gas directly from FSRU Alexandroupolis, providing great savings without supply risk. The unit will be connected to the Nea Santa high voltage substation, making it ideally located to export electricity to neighboring countries that do not expect new natural gas units to come online to cover their needs in the coming years. It is worth noting that this will be the first plant in Europe that can operate on hydrogen in a 50% mixture. Its construction will begin in the first months of 2023, and it is expected to enter commercial operation in June 2025.