Post-lignite investment projects of €4 bln

Post-lignite investment projects of €4 bln

A diverse development model, ranging from advanced technology in power production and electric mobility, to cutting-edge industrial and agricultural units and new forms of tourism, is being planned in the wake of the closure of the coal-powered electricity plants in western Macedonia and in Megalopoli in the Peloponnese, as they adapt to the post-lignite era.

Major Greek and foreign enterprises are anticipating new legislation from the government outlining growth incentives, before proceeding with 16 investment plans worth a total of 4 billion euros that are expected to bring multiple benefits to the local communities.

For example, the Sunlight company of the Olympia group is ready to install a unit in western Macedonia to produce lithium batteries for electric vehicles, investing €200 million through 2026.

Wonderplant, which belongs to entrepreneur Spyros Theodoropoulos, is planning the construction of a unit for the hydroponic cultivation of tomatoes, expected to operate as of 2024. This investment, which will come with a unit for the joint production of electricity and heating, will come to €100 million.

In the sector of electricity production from renewable energy sources, besides the known plans of Public Power Corporation and Hellenic Petroleum for the construction of photovoltaic parks of 2.3 gigawatts with the investment of €1.4-1.6 billion, there are two more investment projects using state-of-the-art technology in the works.

The first is being planned by Greek firm Eunice and concerns the creation of Greece’s first project for the storage of energy in utility-scale lithium batteries, budgeted at €285 million, while the second comes from Polish enterprise Solaris and concerns the creation of a green hydrogen unit, a project involving three more countries besides Greece, with an investment of €2.5 billion.

In the manufacturing sector, pharmaceutical industry DEMO has planned for the construction of five drug-making units in Megalopoli, with an investment of some €90 million.

Finally, in wine tourism, the Alpha Estate has submitted a plan for upgrading its winery in Amyntaio, Florina, and the creation of accommodation infrastructure at its existing and at new winemaking facilities.

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