Energy ministry taps into geothermal energy

Energy ministry taps into geothermal energy

A new decision by Environment and Energy Minister Kostas Skrekas sets out the conditions and procedure for the leasing and exploitation of geothermal fields for the production of electricity.

The largest geothermal field is located in the island complex of Milos, Kimolos and Polyaigos, for which PPC Renewables has received an operating license, as well as for the Nisyros and Methana fields. The Milos-Kimolos-Polyaigos field, according to the Hellenic Society for the Environment and Culture, could cover about half of the energy needs of the Cyclades. In order to utilize the geothermal fields in question, PPC Renewables has created a joint venture with Ilektor.

Meanwhile, the Regulatory Authority for Energy decided that the producer license secured by PPC Renewables for a geothermal power plant, with an installed capacity of 8 megawatts on Lesvos, be transferred to the PPC-Ilektor venture known as “Geothermal Target 2.”

According to the plan, by 2025 the first power generation unit will have been built and operated, and the next ones will follow, in consultation with the local communities.

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