A massive photovoltaic project in northern Greece by Helleniq Energy

Written by Harris Flodopoulos

Helleniq Energy Group is going ahead with one of the largest photovoltaic (PV) projects in northern Greece. It is a large photovoltaic project that will be connected by cables to the refinery complex located in the combined capital, to meet its energy needs. Besides the photovoltaic project, other projects will be launched within the next five years that will make the Thessaloniki complex energy independent, such as energy storage systems using hydrogen, ammonia or batteries which will significantly reduce the energy and environmental footprint of the industry.

In addition to investing in Thessaloniki, the group is planning similar investments in Elefsina, where a carbon dioxide capture project and a hydrogen production unit are planned, which can be put into operation by 2023. It has been noted in recent years that it has caused serious problems in its operation, and the establishment of a cogeneration unit is being considered. for electricity and heat, with a capacity of 50 megawatts, which will completely cover the power units of the refinery.

Another project underway relates to a renewable diesel production unit in collaboration with sustainable raw materials that is expected to be completed in 2024, as well as investments in renewable fuels using existing unit synergies and SAF production capabilities in Greece.

At the same time, the focus is on improving the main activity with the completion of maintenance programs at the Elefsina and Thessaloniki refineries with a total investment of more than 190 million euros in projects to reduce the environmental footprint and gas emissions, energy savings and the installation of RES inside industrial facilities.

RES

Investments reached 512 million euros in 2022, while the total investment plan until 2030 reaches 4 billion euros. 50% is for the modernization of conventional activity and the production of “cleaner” low-emission liquid fuels, while the remainder will go towards the energy transition, with a focus on renewables and cleaner forms of energy. The goal is to significantly reduce HELLENiQ ENERGY’s carbon footprint by 50% by 2030 and transform it into a low-carbon energy group with a diversified portfolio.

In total, the company has in a short period of time increased the installed capacity of renewable energy projects 12 times to reach 341 MW, of which 275 MW will be added in 2022. The portfolio of projects under development (PV, wind and storage) exceeds 3 times, 1 GW, while the target has been upgraded For 1 GW of projects in operation by 2025 and above 2 GW by 2030, through a combination of organic growth and acquisitions in Greece and abroad.

Recently, HELLENiQ ENERGY announced the first international investment in Cyprus, through the acquisition of two photovoltaic parks in operation, with a total capacity of 15 MW. In addition, a memorandum of cooperation was signed with RWE for the purpose of developing offshore wind farms.