PPC Renewables plans initial geothermal development on two Greek islands.
Greek energy company PPC Renewables is planning to go ahead with development of initially two geothermal projects on the islands of Lesvos and Methana.
Reported locally this morning, the islands of Lesvos and Methana in northeast Peloponnese in Greece are planned as the initial two of four geothermal projects by PPC Renewables, the renewable energy arm of power company PPC.
PPC Renewables holds exclusive exploration and utilisation rights with project companies on these two islands.
The two other potential projects on the islands of Milos and Nisyros are currently second tier in the planning of the company, due to earlier local opposition to the project. PPC Renewables though plans an information campaign to share how technological advances in geothermal development would present a different case with regards to the environmental impact of geothermal development.
Other islands of interest to the company are Kimolos and Polyaegos. PPC plans on a strategic partnership with Helector SA, a member of the Ellaktor group, for the development of these projects.
Helector was the winning bidder in a tender for this strategic partnership, as we reported. Under the arrangement, Helector would a 51 percent stake in its joint venture with PPC Renewables.
A wholly-owned subsidiary of the main power utility PPC, PPC Renewables is anticipating the signing of a ministerial decision by the energy ministry before it proceeds with the formation of its partnership with Helector.
PPC Renewables plans to develop an 8-MW geothermal power station on Lesvos and 5-MW geothermal facilities at each of the other locations.