The initiative involves a partnership with Cyprus-based Clavenia, owned by an Israeli real estate group, alongside two Greek firms: Volton, an energy and telecommunications provider, and EUSIF Larissa, a private equity company. Together, they will develop the 792 MW facility in Larissa’s industrial area, utilizing technology from Mitsubishi Heavy Industries. All required permits for the project have been secured, ensuring a smooth start to construction.
Greece’s Minister for Environment and Energy, Stavros Papastavrou, highlighted the project’s benefits: “This is a new natural gas-fired electricity production unit. A unit that will create new jobs, strengthen competition, and lead to lower electricity prices for consumers.” The plant is expected to contribute to local employment and improve energy affordability.
While Greece has significantly increased its renewable energy production from solar and wind sources, aiming to phase out coal-fired plants by next year, natural gas remains a key component of its electricity supply. The country continues to rely on gas imports to meet its energy demands, and this new facility will help ensure a stable power supply in the region.
