October 16, 2025
by in News

Principia builds CfD-backed battery storage facility in Greece

Principia built its first battery system in just six months. The Themelio facility in Chalkidiki in northern Greece, with 49 MW in operating power, will help reduce curtailments from wind and solar power plants and contribute to grid stability.

One of the first standalone battery energy storage systems (BESS) in Greece is coming online in December. Principia said it built the Themelio facility in the Vouno area of Chalkidiki peninsula, aligned with the national plan for grid stability and electrification.

The BESS has 49 MW in capability and a two-hour duration, translating to a guaranteed capacity of 98 MWh, while the nominal capacity is 127 MWh.

Principia is an equally-owned joint venture of Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia. The company said the name Themelio, foundation, symbolizes the beginning of its new era, diversifying beyond renewables.

The construction of the battery system near the town of Polygyros in the Central Macedonia region began in April. It will help reduce curtailments from wind and solar plants, especially in grid-congested areas, by absorbing excess electricity and injecting it back into the system when needed, Principia explained.

The battery energy storage system features a guaranteed capacity of 98 MWh

BESS also enhances system stability by providing power during peak demand and ensuring smooth grid operation. In addition, the unit promotes energy decentralization, as it is located close to renewable energy production sites, contributing to the creation of a more flexible and intelligent energy environment, the joint venture pointed out.

Eurobank financed half of the EUR 28 million project.

The new system in northern Greece consists of 26 Sungrow battery containers, each with a maximum capacity of 5 MWh and equipped with advanced CALB 314 Ah cells. Themelio includes 13 Sungrow power stations, containing 5,140 kW transformers and 33 kV medium-voltage switchgear, as well as two medium-voltage terminal substations.

The project won government support last year, in the form of a contract for difference (CfD), in Greece’s second auction for standalone energy storage systems. Almost all other beneficiaries of the program are struggling with strict deadlines.

Post Views:40
September 12, 2025
by in News

European electricity industry issues Paris Pledge on pumped storage hydropower

The International Hydropower Association (IHA) and Eurelectric launched the Paris Pledge. It is a collective call to action, aimed at unlocking the potential of pumped storage hydropower in Europe. The signatories urge the European Union and national governments to create the right conditions for long-duration storage to meet clean energy goals.

Over 50 utilities, hydropower suppliers and energy-focused associations have signed the Paris Pledge. The document’s alternative headline is Committing to Pumped Storage to Secure Europe’s Clean Energy Future.

The International Hydropower Association (IHA) and Eurelectric – Union of the Electricity Industry launched the initiative. They warned that Europe faces an urgent and growing need for long-duration electricity storage to secure a reliable, affordable and sustainable energy future.

Amid the transition to a renewables-dominated power system, the ability to store and dispatch electricity over long periods will be critical to balance variable generation from wind and solar, ensure grid stability and resilience, and reduce reliance on imported fossil fuels, the authors stressed. They called pumped storage hydropower or PSH the most important, scalable and cost-effective long-duration electricity storage solution available today. It still provides over 90% of the world’s long-duration electricity storage capacity.

PSH is currently the most important, scalable and cost-effective long-duration electricity storage solution, the industry pointed out

By 2050, around 86% of production capacity in Europe will come from variable sources, according to the material accompanying the Paris Pledge. Encouragingly, 78 pumped storage hydropower projects are under development, for 35 GW overall. The EU accounts for over 32 GW, and the rest is in Switzerland, Norway and Turkey.

The combined pipeline would provide storage capacity in excess of 700 GWh, equivalent to more than 10 hours of consumption of Italy and Spain taken together. There is 3.9 GW in the ready-to-build phase, and 2.8 GW is under construction. Of note, an earlier report showed 52.9 GW of PSH was under development.

The existing capacity amounts to 48 GW, compared to 190 GW globally. In the EU, pumped storage hydropower systems can store 1.2 TWh overall.

Photo: Types of pumped storage (IHA, Eurelectric)

Paris Pledge calls for separate legislation for long-duration energy storage

Among other proposals, the signatories are asking the EU for a dedicated initiative to boost the rollout of electricity storage. They suggested legislation to be separate for long duration, short duration and other solutions.

The Paris Pledge calls on member states to remunerate the provision of system services and security of supply for all time frames. They should eliminate double grid fees on electricity storage technologies and accelerate permitting for PSH, the document reads.

With strong political commitment, Europe can double its pumped storage hydropower capacity in the next 25 years, according to the Paris Pledge. In-person signatories represent EDP, EDF, Iberdrola, Andritz, Enel, Statkraft, Voith, Hydrogrid, Verbund, Landsvirkjun and GE Vernova.

Pumped storage hydropower’s contribution during Iberian Peninsula blackout

During the power blackout in Spain and Portugal on April 28, pumped storage played a pivotal role in balancing and supporting the recovery of the system. In Spain, PSH generated 11 GWh of electricity in the first 12 hours, instead of the planned 12 GWh recharge. Similarly, in Portugal, hydropower and pumped storage covered 80% of the demand in the first ten hours.

Such facilities also made a major contribution to restoring the electricity grid in the entire peninsula, thanks to their so-called black start capability. It allows the power plant to be restarted without relying on external power sources and to reenergise the power system.

“Very few technologies can provide this function. As a result, within a few minutes, the first pumped storage plants were ready for synchronization and awaiting dispatch instruction” from transmission system operators, notes the report published with the Paris Pledge.

Post Views:64
August 1, 2025
by in News

EDP Renewables sells wind farms in Greece to Enel-Macquarie joint venture

Principia agreed to acquire all four EDPR’s wind power plants in Greece. The joint venture of Enel and Macquarie Asset Management’s funds is nearing 800 MW in renewable energy and battery storage capacity in the country.

Principia, owned equally by Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia, is strengthening its presence in Greece with a purchase of four wind farms. EDP Renewables is selling the facilities to the firm after reportedly deciding to exit the country.

The joint venture, which expects to close the transaction later this year, revealed that the estimated enterprise value exceeds EUR 200 million. The measure can include debt and some other items. The takeover is adding 149.6 MW to its operational capacity, which would reach 727 MW, from 70 power plants. Wind power accounts for 517.8 MW.

With the purchase, Principia will operate a total of 517.8 MW in wind power capacity.

“The acquisition of this portfolio strategically strengthens Principia’s presence in the Greek renewable energy market, in a constantly evolving environment, and reaffirms a role of leadership in the country’s energy transition. With this investment, we further reinforce our position in the Greek clean energy market and take another step toward delivering on our ambitious plan for growth, diversification, and reliable clean energy generation across Greece,” Principia’s Chief Executive Officer Aristotelis Chantavas said.

All four wind farms operate within CfD scheme

All four wind farms are operating under 20-year contracts for difference (CfDs). Livadi (45 MW) and Erimia (35 MW) are in Malesina, Phthiotis. Wind power plants Xironomi (36 MW) and Chalcodonio (33.6 MW) were commissioned this year. They are located in Boeotia, Central Greece, and Magnesia, Thessaly, respectively.

Newmoney learned, without revealing its source, that Terna Energy, ENI Plenitude, HELLENiQ Energy and some investment funds also participated in the process, interested in the portfolio. The acquisition will lift Principia by one notch to become third among the largest wind farm operators in the country, the article adds.

Principia aims to complete construction of 49 MW battery system by year-end

Principia has another 230 MW under construction or in the ready-to-build stage, and 5.6 GW more in various stages of development.

It is building a battery energy storage system (BESS) of 49 MW in Polygyros, in the Halkidiki peninsula. It won government support at Greece’s second energy storage auction.

The Paleolivada facility is due to come online before the end of the year. Construction began in March. It will have 98 MWh in guaranteed capacity, versus 127 MWh installed.

The firm has a mature project for a hybrid power plant of 111 MW and 70 MW of solar power capacity. The site is in Atherinolakos, in Sitia in the south of Crete.

Principia inaugurated a photovoltaic cluster of 95 MW in May. The Perasma facility, near the villages of Mavrodendri and Sidera, is set to generate 126.8 MW per year. It comprises seven units and 170,000 bifacial panels.

Macquarie Asset Management agreed to buy 50% of Enel Green Power Hellas in 2023.

Of note, EDP Renewables (EDPR) is headquartered in Spain, but traded on the Euronext Lisbon stock exchange. It is a subsidiary of EDP.

Post Views:68
July 31, 2025
by in News

With 152 MW of wind power installed in H1 2025, Greece continues low trajectory

Just 152.2 MW of wind farms were installed in Greece in the first half of 2025, thus continuing the low trajectory of recent years.

According to the Hellenic Wind Energy Association (HWEA or ELETAEN), total wind capacity in the country reached 5,507 MW at the end of June. In the first six months of the year, 37 new wind turbines were installed in Greece, with a capacity of 152.2 MW, representing a total investment of EUR 180 million.

New capacity doubled compared to the same period of 2024, but is not enough to support a more balanced renewable mix, HWEA said. In comparison, photovoltaics consistently add similar capacity in just one month on average.

The association also mentioned that currently there is 1 GW of wind projects under construction, or contracted. The majority are expected to launch operations within the next 18 months. There is another 300 MW selected through auctions for which letters of guarantee were submitted, and it is expected to reach completion. As a result, total capacity is projected to reach 6.5 GW within the period.

HWEA: Red tape is delaying 846 MW of wind projects

HWEA stressed that due to red tape, the construction of over half of the wind power capacity awarded at renewable energy auctions in the period 2018-2022 has been delayed. Namely, 1.592 MW was selected, but just 746 MW is operational today.

“If they had been completed on time, these wind projects, with a total capacity of 846 MW, would have provided more cheap energy and permanent relief to Greek consumers and the national economy,” HWEA pointed out.

Terna Energy and Vestas lead the pack

When it comes to wind energy’s geographical dispersion, Central Greece (Sterea Ellada) leads with 2.427 MW, followed by 709 MW in the Peloponnese and 535 MW in Eastern Thrace.

The top 5 market players are Terna Energy (1,034 MW – 18.8%), owned by Masdar, Motor Oil Hellas’s subsidiary MORE (774 MW – 14.1%), Iberdrola Rokas (409 MW – 7.4%), Principia (368 MW – 6.7%) and PPC Renewables (308 MW – 5.6%), which operates within state-controlled Public Power Corp. or PPC).

The most prominent wind turbine suppliers are Vestas, with 45.1% of the market, followed by Enercon, with 25.7%, and Siemens Gamesa, with 16.4%. They are trailed by Nordex, with 7.6%, GE Renewable Energy (now GE Vernova), with 3.7%, and EWT, Goldwind and Leitwind.

Post Views:120
April 23, 2025
by in News

Italy mulls keeping its last coal plants on standby

After retiring the two remaining mainland coal power plants, scheduled for this year, Italy’s government intends to switch the facilities to standby instead of dismantling them. Two others are on the island of Sardinia, which is waiting for another subsea interconnection to complete the coal phaseout.

Italy has 4.7 GW in coal power capacity left, following the recent retirement of A2A’s plant in Monfalcone, on the border with Slovenia. The two facilities that remained on the mainland are only marginally active and they are officially set to be closed this year. However, Minister of the Environment and Energy Security Gilberto Pichetto Fratin expressed the belief that they should be kept on standby.

“Therefore, not producing, because it is not economically suitable. But the geopolitics are still in a state where no one can guarantee us that gas will not reach EUR 70 per MWh or that there will be no malfunctions in the pipelines that supply us,” he argued. The said facilities, already dormant as they are not cost-effective, should be kept just in case, in the view of the minister. He didn’t address the pollution issue.

Provisional data showed that coal power output nosedived 71% in 2024 to 3.5 TWh. It translated to a share of 1.3% in electricity production and 1.1% in consumption.

On the one hand, the capacities would be valuable in case of gas and power supply disturbances. But it comes at the cost of maintaining a complex system idle.

Sardinia may remain dependent on coal by 2029

The two mainland coal plants are Enel’s Torrevaldaliga Nord in Civitavecchia and Brindisi Sud.

There are two more, in Sardinia, scheduled to be phased out by January 2029. By then, the island’s interconnection with the main grid should be strengthened with the proposed Tyrrhenian Link. The Sulcis coal plant is also Enel’s, and the other one is EP Produzione’s Fiume Santo power plant. Together, they have 1.1 GW in nominal capacity.

Speaking at the same event, Chief Executive Officer of Enel Flavio Cattaneo warned of the expected surge in power consumption, suggesting the coal exit be reconsidered. The “perfectly functioning” plants, which “saved” Italy during the gas crisis, will be closed by August, he stressed. The company is open to selling its coal assets, Cattaneo said and hinted at the possibility that the government buys them.

AI, data centers bolstering demand for nuclear energy, gas, coal

Eni’s CEO Claudio Descalzi said it was “pure madness” to close coal-fired power plants “in a situation of high costs or low energy availability.” He cited the rise of artificial intelligence and data centers, boosting energy demand, and the need to keep costs low. “It is only possible with nuclear, gas and coal,” Descalzi claimed.

Closing coal plants is not in the country’s interest, said Deputy Prime Minister of Italy and Minister of Infrastructure and Transport Matteo Salvini.

A group of environmental organizations called it unacceptable in 2025 to propose coal to be part of the energy mix.

Italy is no longer buying Russian gas

Minister Pichetto Fratin also said Italy has stopped buying gas from Russia at the end of last year. It turned to alternatives like liquefied natural gas (LNG) from the United States, he added.

The country needs to rapidly deploy renewables, in his view, and decouple the prices of electricity and gas. Pichetto Fratin said gas accounts for 40% of power but that it determines 70% of the final price, and criticized the pricing system based on the Netherlands’ TTF benchmark.

The government is considering support for long-term power purchase agreements (PPAs) and contracts for difference (CfD), to stabilize prices and become competitive with Germany. It is also the European Union’s policy, under the latest electricity market redesign.

Post Views:33