MountMed Institute and the University of Cyprus are establishing the country’s first energy cooperative with partners from Crete. In the pilot phase, they intend to build a small hybrid power plant – photovoltaic facility with energy storage – for one hundred households in the Troodos mountain range.
The communities of the wider Troodos (Trodos) region in Cyprus are getting assistance for access to renewable energy sources. A project is underway for the island country’s first energy cooperative. It is especially aimed to benefit villages where the environment and particular geographical and building characteristics do not provide residents with technical solutions such as the ones in urban areas, for the production of cheaper electricity from photovoltaic systems or other technologies, philenews reported.
The non-profit MountMed Research and Development Institute for the Mountain Regions of the Mediterranean Islands secured EUR 1 million via a European Union program. The University of Cyprus, the project coordinator, is tasked with technical studies and obtaining permits.
They intend to install a pilot energy community solar park with storage for communities and villagers in the Troodos mountain range. In the first phase, the 500 kW facility would supply 100 households in the Solea-Marathasa area.
Minoan Energy Community of Crete to provide knowhow
The initiative is called MoRECo (Mountain Community of Renewable Energy) Troodos. The funding came through Cooperation Programme Interreg VI-A Greece-Cyprus 2021-2027. The endeavor includes assistance from the Crete Region and the Minoan Energy Community as partners.
According to the update, the land for the first solar power plant will be secured in cooperation with the Ministry of Interior and the Cypriot government.
Spreading MoRECo to other villages in Troodos
MountMed plans to expand the initiative to surrounding communities. It has also qualified for technical support from the European Commission’s Rural Energy Community Advisory Hub (RECAH).
The Cyprus Energy Regulatory Authority (CERA) adopted the legal framework for renewable energy communities (RECs) last year. In line with EU regulation, such entities are for individuals, small and medium-sized enterprises (SMEs) and municipal authorities.
The primary objective of an REC is to provide environmental, economic and social benefits at a community level to its shareholders or members or the local areas where it operates, but not profits.
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MountMed Institute and the University of Cyprus are establishing the country’s first energy cooperative with partners from Crete. In the pilot phase, they intend to build a small hybrid power plant – photovoltaic facility with energy storage – for one hundred households in the Troodos mountain range.
The communities of the wider Troodos (Trodos) region in Cyprus are getting assistance for access to renewable energy sources. A project is underway for the island country’s first energy cooperative. It is especially aimed to benefit villages where the environment and particular geographical and building characteristics do not provide residents with technical solutions such as the ones in urban areas, for the production of cheaper electricity from photovoltaic systems or other technologies, philenews reported.
The non-profit MountMed Research and Development Institute for the Mountain Regions of the Mediterranean Islands secured EUR 1 million via a European Union program. The University of Cyprus, the project coordinator, is tasked with technical studies and obtaining permits.
They intend to install a pilot energy community solar park with storage for communities and villagers in the Troodos mountain range. In the first phase, the 500 kW facility would supply 100 households in the Solea-Marathasa area.
Minoan Energy Community of Crete to provide knowhow
The initiative is called MoRECo (Mountain Community of Renewable Energy) Troodos. The funding came through Cooperation Programme Interreg VI-A Greece-Cyprus 2021-2027. The endeavor includes assistance from the Crete Region and the Minoan Energy Community as partners.
According to the update, the land for the first solar power plant will be secured in cooperation with the Ministry of Interior and the Cypriot government.
Spreading MoRECo to other villages in Troodos
MountMed plans to expand the initiative to surrounding communities. It has also qualified for technical support from the European Commission’s Rural Energy Community Advisory Hub (RECAH).
The Cyprus Energy Regulatory Authority (CERA) adopted the legal framework for renewable energy communities (RECs) last year. In line with EU regulation, such entities are for individuals, small and medium-sized enterprises (SMEs) and municipal authorities.
The primary objective of an REC is to provide environmental, economic and social benefits at a community level to its shareholders or members or the local areas where it operates, but not profits.
Global private equity firm Ardian reached an agreement to acquire France-based independent renewable energy producer Akuo.
Akuo, controlled by alternative asset manager ICG, is opening a new chapter under private equity firm Ardian, headquartered in Paris. Founded in 2007 in France, Akuo specializes in wind power, storage and photovoltaics, including agrisolar and floating solar power plants. It has more than 2 GW of assets in operation and under construction or shovel-ready projects across more than 20 countries worldwide.
Ardian agreed to take over Akuo for an undisclosed sum, “subject to the legal information and consultation process towards the relevant employee representative bodies” and pending regulatory clearance, according to the announcement.
“This transaction reflects our commitment to supporting high-potential entrepreneurial infrastructure platforms on their journey to industrialization and growth as part of the energy transition,” said Ardian’s Co-Head of Infrastructure Europe Benoît Gaillochet. The company stressed it would capitalize on Akuo’s solid fundamentals to pursue growth ambitions and that it would provide the necessary financial capacity for its projects.
Ardian said it would provide the necessary financial capacity for Akuo’s projects
The acquisition will enable Akuo to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges, its Co-Founder Éric Scotto asserted. The French company has over 12 GW in its project pipeline. Akuo said it aims to reach 5 GW by 2030 in production and storage capacity.
“We are delighted to have been able to contribute to the success of Akuo and its teams in recent years. Akuo has demonstrated its pioneering position in the development of renewable energy. We are convinced that Ardian will provide the necessary resources to further strengthen the group’s positions and accelerate its growth,” said Managing Director of ICG Infrastructure Strategy Pénélope Dietsch.
Through its infrastructure funds, Ardian manages over 8 GW of thermal and renewable energy capacity in Europe and the Americas and has more than USD 35 billion under management. Overall, it manages or advises USD 177 billion of assets on behalf of more than 1,850 clients globally. It has more than 1,050 employees in 20 offices n Europe, the Americas, Asia and Middle East.
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Global private equity firm Ardian reached an agreement to acquire France-based independent renewable energy producer Akuo.
Akuo, controlled by alternative asset manager ICG, is opening a new chapter under private equity firm Ardian, headquartered in Paris. Founded in 2007 in France, Akuo specializes in wind power, storage and photovoltaics, including agrisolar and floating solar power plants. It has more than 2 GW of assets in operation and under construction or shovel-ready projects across more than 20 countries worldwide.
Ardian agreed to take over Akuo for an undisclosed sum, “subject to the legal information and consultation process towards the relevant employee representative bodies” and pending regulatory clearance, according to the announcement.
“This transaction reflects our commitment to supporting high-potential entrepreneurial infrastructure platforms on their journey to industrialization and growth as part of the energy transition,” said Ardian’s Co-Head of Infrastructure Europe Benoît Gaillochet. The company stressed it would capitalize on Akuo’s solid fundamentals to pursue growth ambitions and that it would provide the necessary financial capacity for its projects.
Ardian said it would provide the necessary financial capacity for Akuo’s projects
The acquisition will enable Akuo to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges, its Co-Founder Éric Scotto asserted. The French company has over 12 GW in its project pipeline. Akuo said it aims to reach 5 GW by 2030 in production and storage capacity.
“We are delighted to have been able to contribute to the success of Akuo and its teams in recent years. Akuo has demonstrated its pioneering position in the development of renewable energy. We are convinced that Ardian will provide the necessary resources to further strengthen the group’s positions and accelerate its growth,” said Managing Director of ICG Infrastructure Strategy Pénélope Dietsch.
Through its infrastructure funds, Ardian manages over 8 GW of thermal and renewable energy capacity in Europe and the Americas and has more than USD 35 billion under management. Overall, it manages or advises USD 177 billion of assets on behalf of more than 1,850 clients globally. It has more than 1,050 employees in 20 offices n Europe, the Americas, Asia and Middle East.
Global energy demand grew at a faster-than-average pace in 2024. The increase was led by the electricity sector, driven by extremely high temperatures, electrification and digitalization. Renewables and natural gas covered the majority of additional energy needs while renewables and nuclear energy did the same for the growth in power generation, according to the IEA’s Global Energy Review.
The latest edition of the IEA’s Global Energy Review brings data on energy demand, supply, the uptake of new energy technologies and energy-related carbon dioxide (CO2) emissions.
Global energy demand rose by 2.2% last year – lower than GDP growth of 3.2% but considerably faster than the average annual demand increase of 1.3% between 2013 and 2023, the report underlines.
Emerging and developing economies accounted for over 80% of the increase in global energy demand in 2024. In China, energy consumption rose by less than 3%, half its 2023 rate and well below the country’s recent annual average. After several years of declines, advanced economies saw a return to growth, with their energy demand increasing by almost 1% in aggregate, according to the report.
Annual change in electricity consumption by sector 2023-2024
Demand for all fuels and technologies expanded in 2024. The increase was led by the power sector as electricity demand surged by 4.3%, well above the 3.2% growth in global GDP.
Global electricity consumption rose by nearly 1,100 TWh in 2024, more than twice the annual average increase over the past decade. China made up more than half of the global increase in electricity demand.
The electricity consumption has increased due to higher demand for cooling, rising consumption by industry, the electrification of transport and growth of data centers and artificial intelligence, according to the report.
Electricity use in buildings accounted for nearly 60% of overall growth in 2024. The power capacity of data centers globally increased by an estimated 20%, or around 15 GW, mostly in the US and China. Meanwhile, global sales of electric cars rose by over 25%, surpassing 17 million units and accounting for one fifth of all car sales.
Share of energy demand growth by source 2024
Renewables covered the biggest share (38%) of global energy supply growth, followed by natural gas (28%), coal (15%), oil (11%) and nuclear (8%), the report reads.
Renewables and nuclear energy together provided 80% of the growth in global electricity generation. They contributed 40% of total generation, the most so far, with renewables alone supplying 32%.
New renewables hit record levels for the 22nd consecutive year, with around 700 GW of total capacity added in 2024, nearly 80% of which was solar power.
Birol: The IEA report puts some clear facts on the table about what is happening globally
Photovoltaic and wind power output increased by a record 670 TWh, while generation from natural gas rose by 170 TWh and coal by 90 TWh. In the European Union, the share of generation provided by solar and wind surpassed the combined share of coal and gas for the first time. In the United States, the share of photovoltaics and wind rose to a combined 16%, overtaking coal. In China, they reached nearly 20% of total production.
According to IEA Executive Director Fatih Birol, there are many uncertainties in the world today and different narratives about energy, but the report puts some clear facts on the table about what is happening globally.
“What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies. The result is that demand for all major fuels and energy technologies increased in 2024, with renewables covering the largest share of the growth, followed by natural gas. And the strong expansion of solar, wind, nuclear power and EVs is increasingly loosening the links between economic growth and emissions,” he stressed.
Natural gas recorded the strongest demand growth among fossil fuels
As a result of the rise in power consumption, natural gas saw the strongest demand growth among fossil fuels. It increased by 2.7% in 2024, rising by 115 billion cubic metres, compared with an average of around 75 billion annually over the past decade.
China had the largest absolute growth in gas demand in 2024, by over 7% or 30 billion cubic meters. Demand expanded by around 2% or 20 billion in the United States, and modestly in the European Union.
Coal demand increase was driven by cooling needs
Global coal demand rose by 1% in 2024, half the rate of increase seen the previous year, according to the report.
Intense heatwaves in China and India pushed up electricity consumption for cooling. The two countries contributed more than 90% altogether of the annual increase in coal consumption globally, the report underlined.
CO2 emissions from the energy sector continued to increase in 2024 but at a slower rate than in 2023.
“Growth in energy-related carbon dioxide (CO2) emissions continues to decouple from global economic growth. Emissions growth slowed to 0.8% in 2024, while the global economy expanded by more than 3%,” IEA said.
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Global energy demand grew at a faster-than-average pace in 2024. The increase was led by the electricity sector, driven by extremely high temperatures, electrification and digitalization. Renewables and natural gas covered the majority of additional energy needs while renewables and nuclear energy did the same for the growth in power generation, according to the IEA’s Global Energy Review.
The latest edition of the IEA’s Global Energy Review brings data on energy demand, supply, the uptake of new energy technologies and energy-related carbon dioxide (CO2) emissions.
Global energy demand rose by 2.2% last year – lower than GDP growth of 3.2% but considerably faster than the average annual demand increase of 1.3% between 2013 and 2023, the report underlines.
Emerging and developing economies accounted for over 80% of the increase in global energy demand in 2024. In China, energy consumption rose by less than 3%, half its 2023 rate and well below the country’s recent annual average. After several years of declines, advanced economies saw a return to growth, with their energy demand increasing by almost 1% in aggregate, according to the report.
Annual change in electricity consumption by sector 2023-2024
Demand for all fuels and technologies expanded in 2024. The increase was led by the power sector as electricity demand surged by 4.3%, well above the 3.2% growth in global GDP.
Global electricity consumption rose by nearly 1,100 TWh in 2024, more than twice the annual average increase over the past decade. China made up more than half of the global increase in electricity demand.
The electricity consumption has increased due to higher demand for cooling, rising consumption by industry, the electrification of transport and growth of data centers and artificial intelligence, according to the report.
Electricity use in buildings accounted for nearly 60% of overall growth in 2024. The power capacity of data centers globally increased by an estimated 20%, or around 15 GW, mostly in the US and China. Meanwhile, global sales of electric cars rose by over 25%, surpassing 17 million units and accounting for one fifth of all car sales.
Share of energy demand growth by source 2024
Renewables covered the biggest share (38%) of global energy supply growth, followed by natural gas (28%), coal (15%), oil (11%) and nuclear (8%), the report reads.
Renewables and nuclear energy together provided 80% of the growth in global electricity generation. They contributed 40% of total generation, the most so far, with renewables alone supplying 32%.
New renewables hit record levels for the 22nd consecutive year, with around 700 GW of total capacity added in 2024, nearly 80% of which was solar power.
Birol: The IEA report puts some clear facts on the table about what is happening globally
Photovoltaic and wind power output increased by a record 670 TWh, while generation from natural gas rose by 170 TWh and coal by 90 TWh. In the European Union, the share of generation provided by solar and wind surpassed the combined share of coal and gas for the first time. In the United States, the share of photovoltaics and wind rose to a combined 16%, overtaking coal. In China, they reached nearly 20% of total production.
According to IEA Executive Director Fatih Birol, there are many uncertainties in the world today and different narratives about energy, but the report puts some clear facts on the table about what is happening globally.
“What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies. The result is that demand for all major fuels and energy technologies increased in 2024, with renewables covering the largest share of the growth, followed by natural gas. And the strong expansion of solar, wind, nuclear power and EVs is increasingly loosening the links between economic growth and emissions,” he stressed.
Natural gas recorded the strongest demand growth among fossil fuels
As a result of the rise in power consumption, natural gas saw the strongest demand growth among fossil fuels. It increased by 2.7% in 2024, rising by 115 billion cubic metres, compared with an average of around 75 billion annually over the past decade.
China had the largest absolute growth in gas demand in 2024, by over 7% or 30 billion cubic meters. Demand expanded by around 2% or 20 billion in the United States, and modestly in the European Union.
Coal demand increase was driven by cooling needs
Global coal demand rose by 1% in 2024, half the rate of increase seen the previous year, according to the report.
Intense heatwaves in China and India pushed up electricity consumption for cooling. The two countries contributed more than 90% altogether of the annual increase in coal consumption globally, the report underlined.
CO2 emissions from the energy sector continued to increase in 2024 but at a slower rate than in 2023.
“Growth in energy-related carbon dioxide (CO2) emissions continues to decouple from global economic growth. Emissions growth slowed to 0.8% in 2024, while the global economy expanded by more than 3%,” IEA said.
With 585 GW of capacity additions, renewables accounted for over 92.5% of power expansion globally in 2024, the International Renewable Energy Agency (IRENA) said. Solar power and wind dominated again, as did China. The country contributed a stunning 63.8% in total, and 61.5% and 70.5% in the two technologies, respectively. It surpassed a 50% share in the world’s operational photovoltaic capacity.
In Southeastern Europe, eight countries had solar power expansion rates above the global 32%. Croatia almost doubled its PV capacity, while Turkey had almost as much online as all others put together.
Solar energy accounted for a tremendous 77.2% of all expansion. It grew by 452 GW in absolute terms, or 32%, to 1.87 TW. The technology topped 1 TW just two years before. Notably, Global Solar Council earlier declared that the 2 TW threshold of total photovoltaic capacity was reached in 2024.
IRENA said wind energy surged 11.1% (113 GW) to 1.13 TW. Hydropower achieved net growth of only 1.1% or 15.5 GW, to 1.43 TW.
It should be said here that the output from hydro and wind is three and almost two times higher, respectively, per unit of capacity than that from photovoltaics.
The bioenergy segment grew 3.2% to 151 GW, while geothermal added 2.5%, reaching 15.4 GW. As for pure pumped storage (excluding the facilities with dual use), a technology essential for balancing intermittent sources, the capacity increased by a neglectable 0.4%, to 142 GW.
China still eclipsing rest of world in expansion in three main renewables technologies
Solar and wind energy continued to dominate renewables capacity expansion, jointly accounting for 96.6% of all net additions.
“Renewables renew economies. But the shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power,” said United Nations Secretary-General António Guterres.
Indeed, the picture would be completely different without China. It is by far the strongest force in the sector, including the production of equipment for renewable electricity plants.
At the current pace, the world would come up 0.8 TW short of the 2030 climate-related renewables target
China accounted for 63.8% of last year’s added capacity, 70.5% of wind power and 61.5% of photovoltaic systems. It boosted its hydropower fleet by 14.4 GW, a whopping 93% of the total, to 436 GW.
The country’s overall renewables capacity soared 25.7% to 1.83 TW. The wind power item increased 18.1% to 522 GW and the installed capacity of PV systems spiked 45.6% to 888 GW. It means China now hosts more than half of the world’s solar power!
Maintaining the overall growth rate in renewables registered in 2024 would bring the global capacity to 10.4 TW by 2030. It would be 0.8 TW below the target for keeping global warming at a maximum 1.5 degrees Celsius.
Turkey boosts PV fleet by 76% to 19.9 GW in 2024
Countries in the region that Balkan Green Energy News tracks mostly achieved stellar progress in photovoltaics, while other segments generally stagnated.
Turkey is undisputed in solar power – growing 76% to 19.9 GW, while all others had almost 22.5 GW put together last year. The wind sector was solid, rallying 9.9% to just under 13 GW. Of note, Serbia’s wind power capacity growth, 18.4%, was the only one above the global rate. Its total reached 604 MW.
Eight countries in Southeastern Europe beat the world’s average in the expansion of photovoltaics last year, according to the new statistics.
After Turkey, the biggest solar power capacity, 9.3 GW, and absolute increase, 2.58 GW, is in Greece. The country registered a 39% growth.
In percentage terms, Croatia is the first in the Balkans, with 86%. It had 860 MW of solar power online. Romania’s capacity jumped 57% to 4.7 GW. Bulgaria added 1 GW, or 34%, reaching 3.9 GW. Slovenia hosted 1.31 GW of solar power at the end of last year, increasing it by 27%.
North Macedonia grew 65% to 833 MW and Cyprus increased its PV fleet by 25% to 724 MW.
The remaining markets are all near the bottom of the list in Europe in solar power capacity. Albania had 307 MW in operation, advancing 48% year over year.
The update shows Serbia at 241 MW or 22% more than one year before. Montenegro had 30 MW, compared to 17 MW in 2023. Bosnia and Herzegovina remained at 212 MW and Kosovo* was stuck at 20 MW in the report that IRENA published, indicating a lack of new data.
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* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
With 585 GW of capacity additions, renewables accounted for over 92.5% of power expansion globally in 2024, the International Renewable Energy Agency (IRENA) said. Solar power and wind dominated again, as did China. The country contributed a stunning 63.8% in total, and 61.5% and 70.5% in the two technologies, respectively. It surpassed a 50% share in the world’s operational photovoltaic capacity.
In Southeastern Europe, eight countries had solar power expansion rates above the global 32%. Croatia almost doubled its PV capacity, while Turkey had almost as much online as all others put together.
Solar energy accounted for a tremendous 77.2% of all expansion. It grew by 452 GW in absolute terms, or 32%, to 1.87 TW. The technology topped 1 TW just two years before. Notably, Global Solar Council earlier declared that the 2 TW threshold of total photovoltaic capacity was reached in 2024.
IRENA said wind energy surged 11.1% (113 GW) to 1.13 TW. Hydropower achieved net growth of only 1.1% or 15.5 GW, to 1.43 TW.
It should be said here that the output from hydro and wind is three and almost two times higher, respectively, per unit of capacity than that from photovoltaics.
The bioenergy segment grew 3.2% to 151 GW, while geothermal added 2.5%, reaching 15.4 GW. As for pure pumped storage (excluding the facilities with dual use), a technology essential for balancing intermittent sources, the capacity increased by a neglectable 0.4%, to 142 GW.
China still eclipsing rest of world in expansion in three main renewables technologies
Solar and wind energy continued to dominate renewables capacity expansion, jointly accounting for 96.6% of all net additions.
“Renewables renew economies. But the shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power,” said United Nations Secretary-General António Guterres.
Indeed, the picture would be completely different without China. It is by far the strongest force in the sector, including the production of equipment for renewable electricity plants.
At the current pace, the world would come up 0.8 TW short of the 2030 climate-related renewables target
China accounted for 63.8% of last year’s added capacity, 70.5% of wind power and 61.5% of photovoltaic systems. It boosted its hydropower fleet by 14.4 GW, a whopping 93% of the total, to 436 GW.
The country’s overall renewables capacity soared 25.7% to 1.83 TW. The wind power item increased 18.1% to 522 GW and the installed capacity of PV systems spiked 45.6% to 888 GW. It means China now hosts more than half of the world’s solar power!
Maintaining the overall growth rate in renewables registered in 2024 would bring the global capacity to 10.4 TW by 2030. It would be 0.8 TW below the target for keeping global warming at a maximum 1.5 degrees Celsius.
Turkey boosts PV fleet by 76% to 19.9 GW in 2024
Countries in the region that Balkan Green Energy News tracks mostly achieved stellar progress in photovoltaics, while other segments generally stagnated.
Turkey is undisputed in solar power – growing 76% to 19.9 GW, while all others had almost 22.5 GW put together last year. The wind sector was solid, rallying 9.9% to just under 13 GW. Of note, Serbia’s wind power capacity growth, 18.4%, was the only one above the global rate. Its total reached 604 MW.
Eight countries in Southeastern Europe beat the world’s average in the expansion of photovoltaics last year, according to the new statistics.
After Turkey, the biggest solar power capacity, 9.3 GW, and absolute increase, 2.58 GW, is in Greece. The country registered a 39% growth.
In percentage terms, Croatia is the first in the Balkans, with 86%. It had 860 MW of solar power online. Romania’s capacity jumped 57% to 4.7 GW. Bulgaria added 1 GW, or 34%, reaching 3.9 GW. Slovenia hosted 1.31 GW of solar power at the end of last year, increasing it by 27%.
North Macedonia grew 65% to 833 MW and Cyprus increased its PV fleet by 25% to 724 MW.
The remaining markets are all near the bottom of the list in Europe in solar power capacity. Albania had 307 MW in operation, advancing 48% year over year.
The update shows Serbia at 241 MW or 22% more than one year before. Montenegro had 30 MW, compared to 17 MW in 2023. Bosnia and Herzegovina remained at 212 MW and Kosovo* was stuck at 20 MW in the report that IRENA published, indicating a lack of new data.
Post Views:133
* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
Greek state-controlled utility Public Power Corp. (PPC) aims to become a major player in the rising data center and artificial intelligence market.
PPC (or, in Greek, Admie), announced its 2024 annual results. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 41% to EUR 1.8 billion, while renewable energy capacity reached 6.2 GW. At the same time, green projects with a total capacity of 3.7 GW are at a mature level of development.
“We have raised our investments to EUR 3 billion with a focus on renewable energy, in order to become a leading powertech group,” said chairman and CEO George Stassis.
First data center to have 300 MW in capacity
PPC’s management also unveiled a grand plan to develop data centers in its former lignite mines in Western Macedonia. It is a EUR 5 billion project that envisages the installation of a large data center of 300 MW as a first step. If conditions are favorable, it could be upgraded to 1 GW.
The group has variuos other energy investments planned in its depleted open pit lignite mines. It aims to put an end to coal use by 2026, as the last plant, Ptolemaida 5, would be subsequently converted to a natural gas facility with a capacity of 350 MW. The new asset would also be able to burn hydrogen, the company said.
The new units would supply the data centers, with PPC positioning itself on both ends of the value chain to maximize profits.
PPC is in talks with potential partners for its first data center, Stassis added. The cost per megawatt is estimated at EUR 7 million to EUR 8 million, which is lower than in other European regions, he claimed.
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Greek state-controlled utility Public Power Corp. (PPC) aims to become a major player in the rising data center and artificial intelligence market.
PPC (or, in Greek, Admie), announced its 2024 annual results. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 41% to EUR 1.8 billion, while renewable energy capacity reached 6.2 GW. At the same time, green projects with a total capacity of 3.7 GW are at a mature level of development.
“We have raised our investments to EUR 3 billion with a focus on renewable energy, in order to become a leading powertech group,” said chairman and CEO George Stassis.
First data center to have 300 MW in capacity
PPC’s management also unveiled a grand plan to develop data centers in its former lignite mines in Western Macedonia. It is a EUR 5 billion project that envisages the installation of a large data center of 300 MW as a first step. If conditions are favorable, it could be upgraded to 1 GW.
The group has variuos other energy investments planned in its depleted open pit lignite mines. It aims to put an end to coal use by 2026, as the last plant, Ptolemaida 5, would be subsequently converted to a natural gas facility with a capacity of 350 MW. The new asset would also be able to burn hydrogen, the company said.
The new units would supply the data centers, with PPC positioning itself on both ends of the value chain to maximize profits.
PPC is in talks with potential partners for its first data center, Stassis added. The cost per megawatt is estimated at EUR 7 million to EUR 8 million, which is lower than in other European regions, he claimed.
State-owned Elektroprivreda Srbije (EPS) is analyzing options for the production and use of green hydrogen, including as an alternative fuel for coal-fired power plants, according to the power company’s representatives.
EPS CEO Dušan Živković said the Serbian utility has launched an analysis of the possibility and feasibility of production and storage of hydrogen as well as the use of hydrogen-based fuel in its production capacities.
The analysis will show EPS’s possibilities and how the company can start using hydrogen for its needs, Živković said at the 2nd Belgrade International Conference on Hydrogen, organized by the Cluster for the Development of Hydrogen Projects and Energija Balkana.
The aim is to determine potential locations, size, and method of use of production facilities. It would reveal options to store energy, diversify storage, reduce use of fossil fuel for energy production, integrate variable renewables and optimize the company’s power balance, the CEO underlined.
The best locations for hydrogen production are in thermal power plants
EPS’s Head of Ancillary Services Aleksandar Latinović explained that the best conditions for the production of green hydrogen are at the utility’s thermal power plants Nikola Tesla A (TENT A), Kostolac A, TE-TO Novi Sad, and TE-TO Zrenjanin.
The locations include facilities for chemical water treatment, connections to district heating systems and a strong grid, he added.
At the same time, EPS has significant opportunities for hydrogen consumption. The analysis includes the replacement of backup fuels in thermal power plants, such as fuel oil, with hydrogen and hydrogen-based fuels.
“If we were to build a facility for the production of hydrogen in TENT A, which we would use as backup fuel instead of fuel oil, we would need a 97 MW electrolyzer, which would be operational close to 9,000 hours a year,” Latinović explained.
Of note, EPS is analyzing several options for using alternative fuels in its coal-fired power plants.
The thermal sector will be the backbone of the power sector for several decades
Aleksandar Latinović (first from the right)
In his words, hydropower plants currently carry the biggest burden in running the system, but it will slowly transition to thermal power plants, work regimes will change and the use of fuel oil will increase.
He does not doubt that the thermal sector would be the backbone of the power industry for several more decades. The integration of renewable energy sources will only increase the role of thermal power plants. They will be required to provide flexibility as well as start and terminate production more often, with consumption of fuel oil increased, Latinović claimed.
He stressed EPS would analyze in detail the use of hydrogen from several aspects – the economic one, environmental protection and increasing the flexibility of thermal power plants and energy independence, because hydrogen would be produced on site.
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State-owned Elektroprivreda Srbije (EPS) is analyzing options for the production and use of green hydrogen, including as an alternative fuel for coal-fired power plants, according to the power company’s representatives.
EPS CEO Dušan Živković said the Serbian utility has launched an analysis of the possibility and feasibility of production and storage of hydrogen as well as the use of hydrogen-based fuel in its production capacities.
The analysis will show EPS’s possibilities and how the company can start using hydrogen for its needs, Živković said at the 2nd Belgrade International Conference on Hydrogen, organized by the Cluster for the Development of Hydrogen Projects and Energija Balkana.
The aim is to determine potential locations, size, and method of use of production facilities. It would reveal options to store energy, diversify storage, reduce use of fossil fuel for energy production, integrate variable renewables and optimize the company’s power balance, the CEO underlined.
The best locations for hydrogen production are in thermal power plants
EPS’s Head of Ancillary Services Aleksandar Latinović explained that the best conditions for the production of green hydrogen are at the utility’s thermal power plants Nikola Tesla A (TENT A), Kostolac A, TE-TO Novi Sad, and TE-TO Zrenjanin.
The locations include facilities for chemical water treatment, connections to district heating systems and a strong grid, he added.
At the same time, EPS has significant opportunities for hydrogen consumption. The analysis includes the replacement of backup fuels in thermal power plants, such as fuel oil, with hydrogen and hydrogen-based fuels.
“If we were to build a facility for the production of hydrogen in TENT A, which we would use as backup fuel instead of fuel oil, we would need a 97 MW electrolyzer, which would be operational close to 9,000 hours a year,” Latinović explained.
Of note, EPS is analyzing several options for using alternative fuels in its coal-fired power plants.
The thermal sector will be the backbone of the power sector for several decades
Aleksandar Latinović (first from the right)
In his words, hydropower plants currently carry the biggest burden in running the system, but it will slowly transition to thermal power plants, work regimes will change and the use of fuel oil will increase.
He does not doubt that the thermal sector would be the backbone of the power industry for several more decades. The integration of renewable energy sources will only increase the role of thermal power plants. They will be required to provide flexibility as well as start and terminate production more often, with consumption of fuel oil increased, Latinović claimed.
He stressed EPS would analyze in detail the use of hydrogen from several aspects – the economic one, environmental protection and increasing the flexibility of thermal power plants and energy independence, because hydrogen would be produced on site.
