The hybrid project in Amari, Crete, will kick off after the approval of the Council of State.
As arises from the operative part of the Supreme Administrative Court – as the relevant decision is still pending – the Council of State has rejected almost all the grievances that had been raised against the implementation of the project, while the relevant solutions have already initiated just for the two issues it acknowledged.
More specifically, and as reported, the Council of State did not acknowledge any issues concerning the pumping part of the project, while, as far as the wind farm part is concerned, it only acknowledged the need to prepare a Special Ecological Assessment, as well as the removal of 4 wind turbines. Both issues have already been addressed, as the relevant study has been completed, while earlier, this year, the competent authorities approved a modification of the wind farm design, reducing the number of wind turbines, without affecting the total capacity of the wind farm (72 MW).
The project
Terna Energy’s hybrid clean energy generation and storage project in Amari, Crete, with a total installed capacity of 153 MW, is the largest hybrid project in Europe and the first of its size and characteristics in Greece. In practice, the project provides for the generation and storage of clean energy, using pumped storage, which is the only way of reliable, strategic electricity storage that allows the integration of a higher percentage of RES energy, covering potential system stability problems due to the unpredictable nature of RES generation. This is why value-added storage solutions, such as hybrid and pumped storage, are a priority for Europe as a whole, securing community financing and support, and have been included by the government in the Strategic Investments.
The contribution of the project
However, beyond the national and European importance of the project, its contribution to the local community is also of the utmost importance, as it creates 1,000 new jobs, when the project starts, and at least 100, during its operation, while it provides local municipalities and communities with 110 million euros in additional revenue over a 25-year horizon. Moreover, it ensures residents a reduced electricity tariff and protects locally from extreme weather events, such as flooding.
Latest News
ELSTAT: Greek Health Expenditures Reach €5.89 Billion in 2022
Finally, healthcare financing as a percentage of GDP decreased to 8.5% in 2022 from 9.18% in 2021, as per the Health Accounts System report.
Sonoco Paper Mill Plants Close After 30 Years in Greece
The shut down of the two paper mills in northern Greece comes a week after a glass plant closed in Athens
BoG: Private Deposits Down by 1.068bln Euros in Feb. 2024
Corporate deposits decreased by 912 million euros, compared to a decrease of 3.167 billion euros in the previous month
Greeks’ Buying Power Second Lowest in the EU
Greeks’ purchasing power is under pressure, ranking 26th among 27 EU member states.
Greek FinMin Says Digital Work Card Tackling Undeclared Work
Greece's recently launched digital work card aimed at tackling undeclared labor has already started to produce results, said Economy and Finance Minister Kostis Hatzidakis
MSC Cruises: More than 400 Visits to Nine Greek Destinations
MSC Cruises, a subsidiary of international shipping line Mediterranean Shipping Company S.A, will be sailing to Greek ports as of this month, expanding operations in the region year-round
Eurostat: Greece Among Cheaper Hourly Labor Cost Zones
In contrast, the countries that posted the highest hourly labor costs are Luxembourg (53.9 euros), Norway (51.9 euros), Iceland
GSEVEE: Economic Sentiment Indicator in Greece Down in Q2 2023
The drop follows a significant uptick in the ESI in the second half of 2022 (69.5 units) and a slight decline in the first half of 2023 (66.7 units)
Manpower Report: Sectors in Greece that Have Achieved Full Gender Equality in the Workplace
Greece surpasses this with 45%, showcasing progress but also room for improvement. Sectors like Consumer Goods and Services lead with 69% reporting full equality globally
Bank of America (BofA): Three Reasons Greek Economy Outperforms EC Average
BofA projects growth of 1.1% in 2024 and 1.7% in 2025, compared to forecasts for eurozone growth at 0.4%/1.1%, respectively