A critical regional energy project aiming to connect Cyprus to the European electricity grid has hit significant roadblocks, threatening the country’s bid to end its energy isolation as the last EU member-state without such a connection.
ENERGY
Greece can play very important role for the energy security of the Southeast Mediterranean, according to Geoffrey Pyatt, US Assistant Secretary of State for Energy and former US Ambassador to Greece.
Greek construction group Avax announced on Tuesday the signing of a contract with the Mass Group Holding (MGH) concerning the study, construction and operation of an open-cycle energy production unit in Iraq with a capacity of 282 megawatts, for a total budget of $82 million.
Investments in wind farms totaling more than 110 million euros were connected to the grid during the first half of 2024, according to the Wind Energy Statistics announced by the Hellenic Wind Energy Association (ELETAEN).
The Greek regulatory authority’s decision acknowledges the necessity to commence revenue payments from the project’s construction phase.
Public Power Corporation’s green tariff for July rose 14% compared to June, versus a 22% increase in the wholesale price of electricity during the same period.
A group of European Union and US Democrat lawmakers has asked the International Energy Agency to develop international standards for measuring the oil and gas sector’s emissions of methane, to help countries adopt tougher measures targeting the potent greenhouse gas, a letter showed on Tuesday.
The 13th Athens Energy Summit is taking place on Thursday and Friday this week at Hotel Grande Bretagne, at Syntagma Square.
Capital Link is organizing its fourth Annual Decarbonization in Shipping Forum. Held online, it is themed “Moving from Discussion to Delivery: Continuing the discussion.”
The chief executive officer of Helleniq Energy, Andreas Shiamishis, referred on Thursday to the imposition of an extraordinary levy on the refineries’ excessive profits, saying that its amount is not yet known and that it will not affect the dividend of 2023 but of 2024 and 2025.
The data centers scheduled in Greece will require significant investments for the development of energy networks.
The Standing Committee on Production and Trade of the Hellenic Parliament has voted in favor of ratifying the seventh amendment to the Convention on Hydrocarbon Exploitation in the Maritime Area of the Thracian Sea between the Greek State and Energean Oil.
Renewable energy investor Alcazar Energy Partners said on Tuesday it has launched the largest wind farm project in North Macedonia with an investment of at least $500 million in debt and equity to help generate 400 megawatts of renewable energy.
Major companies like Tesla and Samsung have expressed interest in developing a battery-based electricity storage system in Cyprus.
A major power outage hit Montenegro, Bosnia, Albania and most of Croatia’s coast on Friday, disrupting businesses, shutting down traffic lights and leaving people sweltering without air conditioning in the middle of a heatwave.
The new natural gas power plant being developed by a joint company of Motor Oil and GEK Terna is expected to be put into trial operation in the summer, while its commercial operation is expected by early fall, Motor Oil sources said in the context of the general meeting of shareholders. The new unit has a capacity of 877 megawatts and a cost of 375 million euros.
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