The new combined cycle unit in Larissa, with a net power of 792 MW and a budget of € 600 million, is one of the most important energy investments in recent years in Greece. OR DEPA It participates as a strategic partner, enhancing its role in the country’s energy security, as well as in accelerating green transition.
The unit will substantially contribute to the optimization of the energy mix, boosting competition and reducing prices for consumers and businesses, while upgrading Thessaly to a critical energy hub with wider growth prospects. The investment is being implemented by LARISSA THErmoelectric MAE, which until the entrance of DEPA trading into its equity, it belonged 100% to Clavenia Ltd.
DEPA trading is 35%, with a central role in the management of the company with the appointment of the Chairman of the Board of Directors and its Director General. DEPA via SLA will handle the management of energy management while also supplying all the unit’s needs in gas fuel in market terms.
The project has already fully secured all the required administrative and technical approvals and the construction can begin immediately. The Financial Evaluation of the Investment as well as the Financial Fairness Opinion for the law and reasonable transaction have been carried out and provided by Deloitte, while providing legal and regulatory control and legal documentation and support has been assumed by the Papapolitis & Papapolitis Law Office. Complex transactions and energy works.
At the same time, shareholders are already considering additional investment schemes in the wider Thessaly region, in the field of energy storage and clean energy infrastructure, which will create synergies with the above investment and make Larissa a reference point for the next phase of the Greek energy transition.
Strengthening the DEPA trading position in the new energy landscape
The participation of DEPA trading in this flagship project marks a decisive step towards verticalization of its activities and upgrading its presence in the electricity market. The company expands its role, giving up from the role of the gas supplier in the role of active and responsible electricity producer, strategically directed to sustainable development and the creation of added value for the economy and society.
Through the supply of fuel, production management, the utilization of energy balance tools and the conclusion of PPAS Agreements (Purchase Agreements), DEPA gains greater flexibility, enhances the differentiation of its portfolio and proceeds to implement its strategic plan for the next decade.
An investment with multiple positive effects on national and local level
The new unit will substantially contribute to enhancing the country’s energy security, ensuring additional power with high availability and flexibility in a system facing significant challenges due to increasing RES participation. With combined cycle technology and high efficiency, it will provide cleaner and more efficient power output, contributing to the gradual charring of the mixture.
The project upgrades Thessaly’s position in national energy planning, while the overall investment is expected to create significant opportunities for the local economy and employment both during the construction and during the operation of the unit.
At the same time, enhancing competitiveness in electricity production through new technology and greater performance units creates conditions for stabilization and reducing energy prices for the country’s consumers, businesses and industry, at a time when costs are a major economic pressure factor.
DEPA trading invests in tomorrow’s energy
DEPA trading confirms, through this investment, its role as the strategic public pillar in the new era of energy. Consequently, technical competence and strategic insight, it is proceeding with the implementation of projects that serve national priorities and create growth prospects for local communities, the economy and the company itself.
Investing in Larissa is not an isolated project. It is the first step of a wider plan that brings DEPA to the center of developments. With a clear orientation, high -level partnerships and long -term perspective, DEPA of Trading is charting its own course on the new energy map of Greece and Southeast Europe.