In the morning, Prime Minister Kyriakos Mitsotakis visited the construction site where the Amphilochia pumped storage unit, the largest large-scale energy storage investment in Greece, is being built, worth €650 million, with the aim of supporting further penetration. Renewable energy sources in the country's energy mix.
“Here in the mountains of Amphilochia, a pioneering project is being implemented, not only for Greek data but also for European data. This important pump supply project should be conceived as a very large battery. When we have a surplus of electricity we transfer water from the lower reservoir to the upper reservoir and whenever it is needed The system to electricity would be the exact opposite path.
This project is of particular importance because, as Mr. Peristeris said, it will ultimately reduce the cost of electricity and allow us to use more renewable energy sources and benefit from them in the best possible way.” The construction site and the progress of the works were reported by the President and CEO of GEK TERNA. , George Peristeris, and project manager Dimitris Fragos.
“It is a project financed by the Recovery Fund in the amount of $250 million, and when it is completed in the next two or three years, it will have a very important added value to the overall stability of the electricity system, as we cannot expect.” Maximum possible penetration of renewable energy sources without the need for storage facilities.
Pumped storage is the storage method with the greatest added value, as this construction site will employ approximately 1,000 workers in its full development, so we are also talking about many jobs for the wider Itoloakarnania region. “Therefore, we are looking forward to the rapid completion of this very innovative project, as I said, also of the European Data Project and it is good to be gathered here again to inaugurate it,” added Kyriakos Mitsotakis.
Peristeris (GEK TERNA): It will allow Greece to become more self-sufficient and cheaper in electricity
“It is a project with a very large local added value, as 70% of the project cost will remain in Greece unlike other storage systems. We are moving quickly with great business opportunities. We believe that in a few years this will be able to serve the system,” Mr. Peristeris said. “Electrification of the entire country and allowing greater penetration of renewable energy sources so that Greece becomes more self-sufficient and cheaper in electricity.”
Benefits to the electricity system, reduced electricity costs for consumers and job opportunities in the region
The Amfilochia pumped storage plant will have a total capacity of 680 MW and the ability to produce more than 800 GWh of green energy annually, helping to reduce the use of imported fuel and serving green transition goals.
The total benefits of its integration into the electricity system are expected to exceed €120 million per year, with a significant reduction in electricity costs for consumers.
About 1,000 jobs will be created to build the station, which will contain two independent overhead tanks. During the operational phase, 60 new job opportunities will be created, including specialized and supportive employees.
Technical studies for the project, which is expected to contribute to energy transmission between Greece and other countries, were financed through the Connecting Europe Facility programme, while part of the total investment is financed through the Recovery and Resilience Mechanism. .
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