June 7, 2025
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Investment risk highest for nuclear power, lowest for solar

Nuclear power plants have the highest construction cost overrun and the longest time delays of all energy projects. In the clean energy sector, the worst marks for violation of set construction cost and timelines go to hydrogen, carbon capture and storage as well as gas power plants, according to a study by the Boston University Institute for Global Sustainability.

The average project costs 40% more than expected for construction and takes almost two years longer than planned, the Boston University Institute for Global Sustainability (IGS) said.

Its researchers used an original dataset 50% larger than the ones in previous literature. They examined cost overrun risks for 662 energy infrastructure projects across 83 countries built between 1936 and 2024, covering USD 1.358 trillion in investment and a total capacity of more than 400 GW.

In total, the study evaluated ten types of projects: coal-, oil-, and natural gas–fueled power plants; nuclear reactors; hydropower plants; utility-scale wind farms; utility-scale solar photovoltaic and concentrated solar power (CSP) facilities; high-voltage transmission lines; bioenergy and geothermal power plants; hydrogen production units; and carbon capture and storage (CCS) facilities.

Both hydrogen and CCS projects exhibited significant time and cost overruns

“We found that more than three fifths of the projects experienced cost overruns, with these overruns being particularly prominent in projects exceeding 1,561 MW in capacity. Positively, the escalation rate in cost overruns has been declining since 1976,” reads the study, published in the Energy Research & Social Science journal.

However, the findings show patterns of cost overruns varied by fuel source. Nuclear and fossil thermal projects exhibited higher cost escalation rates over time, whereas solar power projects showed a decline.

Critically, both hydrogen and CCS projects exhibited significant time and cost overruns, casting doubt on their ability to be rapidly scaled up, to address climate change or meet energy and climate policy priorities, the authors underlined.

The average nuclear power plant has a construction cost overrun of 102.5% and ends up costing USD 1.56 billion more than expected, IGS said.

Red flag for efforts to substantially push forward a hydrogen economy

“Worryingly, these findings raise a legitimate red flag concerning efforts to substantially push forward a hydrogen economy,” said Benjamin Sovacool, lead and first author of the study, director of IGS, and professor at Boston University’s Department of Earth and Environment.

In the results, solar energy and electricity grid transmission projects have the best construction track record and that they are often completed ahead of schedule or below expected cost.

Wind farms also performed favorably in the financial risk assessment, according to the study, called ‘Beyond economies of scale: Learning from construction cost overrun risks and time delays in global energy infrastructure projects’.

“Low-carbon sources of energy such as wind and solar not only have huge climatic and energy security benefits, but also financial advantages related to less construction risk and less chance of delays,” Sovacool stated.

For him, it’s further evidence that such technologies have an array of underrated and underappreciated social and economic value.

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May 26, 2025
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Greece’s DEPA joins forces with Clavenia to build 792 MW gas power plant

A Greek-Israeli consortium has signed an agreement to build a 792 MW gas power plant in Larissa, Greece, in an investment valued at EUR 600 million. The facility will use an advanced combined cycle gas turbine (CCGT) technology, enabling a net thermal efficiency of 62.6%.

The proposed gas power plant is expected to be the most efficient CCGT facility in the country. It will utilize Mitsubishi Heavy Industries’ advanced technology, specifically M 701JAC, according to a statement by Greek state-controlled gas supplier and trader DEPA Commercial, one of the partners in the consortium.

The Larissa plant is expected to be the most efficient CCGT facility in Greece

The project is led by Clavenia, registered in Cyprus but with Israeli ownership. It has a 38.5% stake. The other three stakeholders are based in Greece – DEPA Commercial, with 35%, energy investment fund EUSIF Larissa, with 16.5%, and local retail electricity supplier Volton, with 10%.

A final investment decision is expected by the end of 2025, and construction would begin in early 2026. All required permits have already been secured. DEPA revealed it would be responsible for the commercial supply of natural gas for the operation of the plant.

The project could be expanded to include a data center, energy storage, and hydrogen

Clavenia plans to expand the project by developing a broader energy hub in the region, including battery storage facilities, a data center, and potentially hydrogen production and carbon capture technologies, according to Energypress.

Nissan Caspi, managing partner at Clavenia, described the Larissa project as the first phase of a broader plan, incorporating innovative Israeli technologies, such as hydrogen storage, green methanol production, and lithium ion batteries.

DEPA is already building a CCGT plant in Greece of 840 MW

DEPA, in partnership with state-controlled Public Power Corp. (PPC), is building an 840 MW gas power plant in Greece using CCGT technology. It is also involved in a project for a gas-fired power plant in Albania, together with Greece-based GEK Terna and Albanian firm Gener 2.

The company owns 20% of the Alexandroupolis LNG Terminal and 25% of ICGB, which operates the Interconnector Greece-Bulgaria (IGB) gas pipeline.

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May 26, 2025
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Slovenia keeps phasing out coal as key heating plant boosts natural gas share to 60%

TE-TOL, the main district heating provider in the Slovenian capital, Ljubljana, has taken over a newly built gas-steam unit, reducing the share of coal in heat generation to 20% and marking another step toward a complete coal phaseout in the country.

Slovenia’s official deadline for abandoning coal is 2033, although there are indications it might happen much sooner. In a step seen as the beginning of the country’s coal phaseout, the Government of Slovenia decided in December to provide EUR 403 million to save the Šoštanj coal power plant and coal mine Velenje from bankruptcy, announcing it would take over both entities from state-owned power utility Holding Slovenske Elektrarne (HSE).

Over the weekend, Srečko Trunkelj, deputy CEO of Energetika Ljubljana, a state-controlled energy company that operates TE-TOL, explained that heat production at the plant was previously based on 65% coal, 19% natural gas, and 16% wood biomass. “This structure has changed significantly, as we now use 20% coal, 60% natural gas, and 20% wood biomass,” Trunkelj said at a conference on Sunday, the Naš stik magazine reported.

The share of coal in heat production at TE-TOL has now dropped from 65% to 20%

Last week, the Greek contractor handed over the management of the new gas-steam unit to TE-TOL. “The […] plant is now under our management, with a three-year warranty period,” Energetika Ljubljana explained.

The new unit, called PPE-TOL, comprises two gas turbines, each with a nominal electrical power of 57 MW, and one steam turbine with 42 MW of nominal power. Officially, the facilities are still in a trial operation period until the company obtains a use permit. The new gas-steam unit is expected to begin regular operation in the coming heating season.

The new unit will also boost TE-TOL’s electricity output

The new unit will also enable TE-TOL to boost its electricity generation, making it the third-largest power producer in the country. It will provide around 8% of the country’s total electricity supply, Energetika CEO Samo Lozej said earlier. Its output should be enough to supply 600,000 households.

Energetika Ljubljana operates the largest district heating network in Slovenia, supplying heat to about 60,000 homes, and is also a major player in the natural gas retail market, according to Slovenian media.

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May 16, 2025
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Serbia to soon finish study on use of nuclear energy – minister

The preliminary study on the use of nuclear energy in Serbia should be completed by the end of the second quarter, according to Dubravka Đedović Handanović, the Minister of Mining and Energy.

A preliminary technical study for considering the peaceful use of nuclear energy is being prepared by French state-owned energy utility EDF and engineering company Egis Industries. The two companies won a tender organized by the Ministry of Mining and Energy.

Minister Dubravka Đedović Handanović told public broadcaster RTS that the study focuses on three aspects. The first one is developing a roadmap for the implementation of 19 institutional and infrastructural steps for a potential nuclear program.

Experts from Serbia’s TSO EMS are involved in the preparation of the study

The roadmap, in her words, must be in line with the guidelines of the International Atomic Energy Agency (IAEA).

The second topic is an analysis of available technologies, including conventional nuclear power plants and small modular reactors (SMRs), and the third is to consider how a nuclear plant, depending on capacity, could be integrated into the country’s energy system.

Experts from Serbia’s transmission system operator Elektromreža Srbije are providing help in the third part, she noted.

Serbia would need to choose a partner for the development of a nuclear power project

According to Đedović Handanović, SMRs are a technology under development for cheaper facilities, which require less time to be built than conventional reactors.

“It is up to us to look at the advantages and disadvantages of both technologies, of which one is under development and the other is proven in the market, and say what we want to go with. Of course, if all the preconditions are met. Also, finally, with whom, as all the main developers of the technologies are certain companies from different parts of the world,” she stressed.

Baseload energy is crucial for the stability of the energy system

The minister pointed out that the IAEA prescribes clear steps each country must fulfill if it is considering the development of a nuclear program. It means no country can do anything on its own, she added.

“All those institutional and infrastructural prerequisites have to be checked, approved, verified, and ultimately monitored by the IAEA,” Đedović Handanović underlined.

Speaking about the long-term strategy, she recalled that baseload energy is crucial to secure the stability of the energy system. In Serbia it is currently provided from coal and natural gas, while nuclear plants can also play the role.

Natural gas, in her words, will serve as a transitional fuel for baseload energy for another 20-30 years, so it is necessary to find a long-term solution. Nuclear energy is one of the options, but it requires a lot of experience, time, and investment, Đedović Handanović noted.

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May 8, 2025
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EU outlines measures to end Russian gas, oil imports by end-2027

The European Commission set out a plan to phase out by the end of 2027 the purchases of Russian natural gas, including in the form of LNG, and oil. The package includes proposals aiming to replace Russian nuclear fuel and materials as well.

The European Union will end its dependency on Russian energy by stopping the import of Russian gas and oil and phasing out Russian nuclear energy, while ensuring stable energy supplies and prices, the European Commission said. Its new REPowerEU Roadmap targets full energy independence from Russia.

Since Russia’s invasion of Ukraine in 2022, the EU was lowering the share of Russian fossil fuels under the REPowerEU plan and via sanctions. However, Russian gas imports rebounded last year by 18%, led by Italy, Czechia and France. The commissioners argued that the “overdependency on Russian energy imports is a security threat” and called for new coordinated actions.

Von der Leyen: It is now time for Europe to completely cut off its energy ties with an unreliable supplier

“The war in Ukraine has brutally exposed the risks of blackmail, economic coercion and price shocks. With REPowerEU, we have diversified our energy supply and drastically reduced Europe’s former dependency on Russian fossil fuels. It is now time for Europe to completely cut off its energy ties with an unreliable supplier. And energy that comes to our continent should not pay for a war of aggression against Ukraine. We owe this to our citizens, to our companies and to our brave Ukrainian friends,” European Commission President Ursula von der Leyen stated.

The volumes of imported Russian gas fell to last year’s 52 billion cubic meters from 150 billion in 2021. The share of Russian gas imports dropped from 45% to 19%. All imports of the country’s coal have been banned by sanctions. Russian oil imports have shrunk from 27% at the beginning of 2022 to the current 3%.

Member states need to roll out national plans by end-2025

The new measures have been designed to preserve the security of energy supply while limiting any impact on prices and markets. They would be applied in parallel to advancing the energy transition.

“Last year we in the EU paid EUR 23 billion to Russia for our energy imports. That is EUR 1.8 billion per month. This needs to stop,” European Commissioner for Energy Dan Jørgensen stressed.

The administration in Brussels expects to replace up to 100 billion cubic meters of natural gas by 2030, which means a decrease in demand by 40-50 billion by 2027. It sees an increase in liquefied natural gas (LNG) capacities by 200 billion cubic meters by 2028, which is five times more than current EU imports of Russian gas. The EU still hasn’t imposed sanctions on Russian LNG.

Member states will be asked to prepare national plans by the end of this year, the announcement reveals. All the measures will be accompanied by continuous efforts to accelerate the energy transition and diversify energy supplies, including via the aggregation of gas demand and a better use of infrastructure, according to the document.

Administration in Brussels intends to tackle Russian shadow tanker fleet carrying oil

The European Commission said the proposed measures would improve the transparency, monitoring and traceability of Russian gas.

“Crucially, new contracts with suppliers of Russian gas (pipeline and LNG) will be prevented, and existing spot contracts will be stopped by the end of 2025. This measure will ensure that already by the end of this year, the EU will have slashed by one third remaining supplies of Russian gas. The commission will further propose to stop all remaining imports of Russian gas by the end of 2027,” the plan reads.

Under the roadmap, the commission will put forward new actions to address Russia’s shadow fleet transporting oil. It said the vessels are circumventing sanctions and the international oil price cap.

EU depends on Russia for quarter of its uranium conversion, enrichment needs

As regards nuclear, the proposals coming next month cover enriched uranium and supply contracts co-signed by the Euratom Supply Agency (ESA) for uranium, enriched uranium and other nuclear materials. The EU intends to increase its production of medical radioisotopes.

“While diversification efforts might create uranium and fuel price volatility over access to uranium supply on global markets, major impacts on electricity prices are unlikely as the price of nuclear fuel and related services represent only a small portion of the final cost of electricity from nuclear power plants,” the plan adds.

The EU intends to increase its production of medical radioisotopes

More than 14% of uranium was sourced in the EU from Russia in 2024. The commissioners highlighted the concentration of uranium conversion and enrichment services – needed to transform processed uranium into the material for nuclear fuel manufacturing – in a limited number of companies.

In 2024, around 23% of the whole EU demand for uranium conversion services and almost 24% of enrichment was covered by Russia.

While more than 85% of uranium is produced in Kazakhstan, Canada, Australia, Namibia, Niger and Russia, uranium mines currently operate in many countries and unmined deposits exist in some EU member states.

It will take years to make use of domestic, other Western resources

European enrichment companies have expansion plans but the first new enrichment installation is not expected earlier than 2027.

“Moreover, the global uranium conversion industry is facing obstacles in ramping up production due to technological complexity and market uncertainties, and new conversion capacities are currently announced only for early 2030s. The EU’s nuclear sector also continues to rely on Russia for some spare parts and maintenance services,” the European Commission said.

EEB: Replacing Russian gas with US gas is senselless

The European Environmental Bureau (EEB) noted that imports of Russian gas including LNG rose 18% in 2024 despite no growth in demand.

Numbers of shadow LNG tankers from Russia have also increased, as have indirect imports of Russian energy via third countries, it added. Plans to tackle the shadow fleet are vague, the organization claimed. It went on to label the United States a clearly unreliable trade partner.

“Phasing out Russian coal and gas only to replace it with a dependence on US fracking gas is not in the EU’s security or financial interests. EU countries should instead focus on accelerating their deployment of wind and solar energies. The technologies to move to 100% renewable energy are available,” EEB’s Policy Manager for Climate and Energy Luke Haywood underscored.

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May 5, 2025
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Hungary’s MVM inks deal with Çalık Holding, Ansaldo Energia for combined cycle gas turbine power plant

Hungarian power utility MVM signed an agreement with a consortium of Turkey-based conglomerate Çalık Holding and Italian company Ansaldo Energia, which are tasked with building a 1,000 MW combined cycle gas turbine power plant at the Tiszaújváros site in northeast Hungary.

It is the second time this year that MVM contracted the construction of gas-fueled and hydrogen-ready facilities at sites of former power plants running on fossil fuels. Two months ago, the company signed a deal with domestic firms Status KPRIA and West Hungária Bau, and Egypt-based Elsewedy Electric for a 650 MW power combined cycle gas turbine (CCGT) at the Mátra Power Plant.

Now the contract for the development of a modern CCGT power plant was signed by MVM Tisza Power Plant Ltd. of the MVM Group, Çalık Holding, the consortium lead, and Ansaldo Energia.

The agreement marks the beginning of turnkey execution planning, procurement, and construction of what is expected to be Hungary’s most efficient large-scale power plant, the companies said.

Lantos: No new baseload power plant has been built in Hungary in more than 15 years.

The power plant is expected to supply an average of 7,500 GWh of electricity annually. It will also be prepared to use hydrogen.

The two-member consortium was awarded the construction and long-term maintenance of the gas turbines at the public procurement tender.

After the signing, Hungarian Minister of Energy Csaba Lantos lauded the deal as historic, noting that no new baseload power plant has been built in Hungary in more than 15 years.

“The new facility will play an important role in balancing renewable electricity production, thereby supporting the successful energy transition,” he added.

Mátrai: A modern, flexible generation capacity

Károly Mátrai, MVM Group CEO, said a modern, flexible generation capacity would replace the previously decommissioned traditional power plant. Of note, it was a gas power plant.

The facility to be built at the Tiszaújváros site will leverage existing electricity grid connections, a cooling water system, and access to natural gas at a nearby point, Mátrai underscored.

According to Fabrizio Fabbri, Ansaldo Energia CEO, the MVM Tisza power plant will be the country’s most efficient, ready to meet Hungary’s growth and increasing energy needs. He said his company would bring its most advanced gas turbine technology, suitable for hydrogen use.

Ahmet Çalik, President of Calik Enerji Swiss, said the company is honored to contribute to Hungary’s energy supply and enhance its energy security.

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April 28, 2025
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Romania’s plan to install 2.15 GW of gas power plants isn’t viable

Romania’s plans for new combined cycle gas turbines with a total capacity of 2.15 GW isn’t economically viable and, if constructed, the facilities should be decommissioned by 2035, according to ENTSO-E’s annual assessment of Europe’s security of electricity supply for the ten years ahead.

ENTSO-E’s European Resource Adequacy Assessment 2024 (ERAA 2024) provides an integrated pan-European perspective for the years 2026, 2028, 2030 and 2035.

The document includes comments on individual countries, specific insights provided by transmission system operators (TSOs).

According to the entry about Romania, low adequacy concerns have been identified in ERAA 2024. The findings rely on assumptions from the National Energy and Climate Plan (NECP), in place on the date of the data collection, as well as from investment plans, permits, connection requests, and available inputs from market participants.

NECP’s central reference scenario reflects the coal phase-out process and further plans for the replacement of the decommissioned capacity with, mainly, combined cycle gas turbine (CCGT) power plants, the document reads.

The results of the economic viability assessment show 2.15 GW of CCGT capacity would not be economically viable by the 2035 horizon

The commissioning of envisioned gas CCGTs is, however, highly uncertain, and national analyses reveal that the validity of the adequacy indicators depends on the implementation of generation goals, the update showed.

Uncertainties related to the commissioning date of the new capacities may have an adverse impact on Romania and, potentially, on the region, the document underlines.

Moreover, results of the economic viability assessment (EVA), part of ERAA 2024, demonstrate that the 2.15 GW of envisaged CCGT capacity would not be economically viable by the 2035 horizon and should be decommissioned in target year 2035.

Considering it is not existing capacity, but rather assumed commissioned in the 2026-2030 period, it is most likely the investments will not materialize at all and thus, the correspondent capacity should be excluded from the analysis for the earlier target years, too, not only 2035, with a negative effect on loss-of-load-expectation (LOLE) results, the authors warned.

Goal in NECP is 2.6 GW of CCGT power plants

According to Romania’s NECP, the goal is 2030 to construct at least 2.6 GW of natural gas–powered CCGTs and around 900 MW of natural-gas-fired combined heat and power (CHP) plants.

The CCGT facilities are Iernut (430 MW), Mintia (at least 860 MW, with a possibility of reaching 1.700 MW), and Ișalnița and Turceni, of 1,325 MW in total.

Investments aren’t going as planned. In January, Minister of Energy Sebastian Burduja acknowledged that the addition of gas-fired units expected in line with the restructuring plan for Complexul Energetic Oltenia – CE Oltenia has been delayed.

Burduja: Mintia to be operational next year

Tenders were launched, such as the one for Ișalnița, but not a single offer was submitted, he added. In Burduja’s words, it is one of the reasons why the operation of coal power plants should be extended.

State-owned CE Oltenia is the largest producer of coal power and the third-largest producer of electricity in the country. Its restructuring plan envisages lignite-based electricity production to be replaced with natural gas, in Işalniţa and Turceni, and renewables.

The Mintia project got the construction permit in January. In March, Burduja said it would be commissioned next year, according to Romania Insider.

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April 28, 2025
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Project for first gas power plant in Albania enters next stage

In partnership with domestic company Gener 2, Greece-based GEK Terna and DEPA Commercial are preparing to build the first gas power plant in Albania. The current phase involves seeking financing. Separately, Azerbaijan’s SOCAR is expected to start installing the first gas distribution network in Albania, in the city of Korça.

Albania is almost 100% dependent on hydropower plants in domestic electricity production. Efforts are underway to diversify the mix with solar and wind energy and introduce storage capacities. Actually, not a single wind turbine has been built yet, but there is another opportunity for strengthening the energy supply: with gas from the Trans Adriatic Pipeline – TAP. Greek conglomerate GEK Terna and state-owned gas supplier, importer and trader DEPA Commercial intend to build the first gas power plant in Albania, with a local partner.

Late last year, the Council of Ministers, the country’s government, approved the project and determined a three-year deadline for completion. The site for the gas plant is in the municipality of Roskovec in Fier in western Albania. Notably, the county attracts most solar power projects in the country.

Gas facility in western Albania reportedly to have 147 MW in capacity

In the current project development phase, Fier Thermoelectric, the joint venture, is seeking financing, Insider.gr reported. The facility is envisaged to have 147 MW in capacity, according to the article. The government’s decision was for 170 MW.

DEPA Commercial, also known as DEPA Emporias (in Greek), DEPA Commerce and DEPA Trading, entered the project in 2023. It took over a 35% stake from GEK Terna and signed a seven-year gas supply contract for the proposed facility.

They have equal ownership, while Albanian company Gener 2 holds the remaining 30%. It is active in construction, infrastructure, civil works, energy, real estate development, telecommunications and retail in Albania and the broader region.

Both GEK Terna and Gener 2 have solar power projects in Albania as well

Gener 2 has submitted a 50 MW solar power project to the government a year ago. The location is in Bistrica in Finiq municipality, Vlora district.

The government’s approval is not for a concession, but the operator is obligated to either deliver 2% of electricity it produces, as royalty – royal right, or give an equivalent sum for the state budget. The permit is for 49 years since the entry of the decision into force. The firm also needs to sell a share of output to the public power supplier, in accordance with the country’s law.

A group of residents of surrounding villages has repeatedly protested against the investment, arguing that they weren’t consulted. The locals even filed a criminal complaint against Roskovec Mayor Majlinda Bufi.

They claim that the gas facility would pollute the area and jeopardize public health while exporting 90% of the produced electricity.

GEK Terna to benefit from synergies with its gas power plants in Greece

GEK Terna has three gas-fired power plants in Greece. The group’s other energy investment in Albania, through its subsidiary Heron, isn’t without controversy either.

The project is for a 93 MW photovoltaic plant in Libohova, near the Greek border, in Gjirokastër county. Project firm Faethon won approval from the Council of Ministers in Tirana in early 2024. It would be valid for up to 49 years.

GEK Terna’s solar power plant project in Gjirokastër was disrupted last year over fake documentation

Local press wrote last summer that some land documentation for the 122-hectare area was forged, prompting a raid and arrests in the cadastral office in Gjirokastër. The operator of the Libohova plant is obligated to deliver 2% of its electricity for free, too.

First gas distribution network in Albania about to be built in Korça

Albania aims to become a net electricity exporter before the end of the decade. There is also a project for a liquefied natural gas (LNG) terminal in the port city of Vlora, where a gas-fired power plant is planned to be built.

A long-awaited project called Nur, for the gasification of Korça, was presented last week. It would be the first city in Albania with gas.

The final investment decision is expected this year. State Oil Company of Azerbaijan (SOCAR) would be tasked with implementation, with financing from its government. The estimated cost is EUR 21 million. The idea is to then expand the local gas distribution network to nearby Pogradec and Erseka.

Fier and Elbasan are next on the schedule. Azerbaijan and its company are also interested in the project for the LNG terminal in Vlora and to connect the facility with TAP.

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April 24, 2025
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Greece’s DEPA Commercial picks contractors for PV plants of 500 MW

Construction companies Terna and Aktor are about to start building a solar power plant of 400 MW in northern Greece and another 100 MW near Larissa, for state-owned DEPA Commercial, according to a new report. In its switch toward cleaner sources, the gas holding has also finished the construction of its biomethane plant.

Greek state-controlled gas supplier, importer and trader DEPA Commercial has completed the tenders for photovoltaic parks of 500 MW overall, OT learned. The 400 MW facility in Kozani in the Western Macedonia province would currently be the largest in the country.

However, Lightsource bp, owned by BP, started the construction of a 560 MW solar park last summer in Central Greece and Thessaly. State-controlled Public Power Corp. (PPC or DEI) is about to finish a 550 MW photovoltaic facility in Ptolemaida, near Kozani.

DEPA Commercial is also known as DEPA Emporias (in Greek), DEPA Commerce and DEPA Trading. Both for the giant PV plant in northern Greece and another 100 MW in Farsala, Larissa, it selected the consortium of Terna, part of the GEK Terna conglomerate, and Ellaktor’s Aktor.

The turnkey deals are worth EUR 270 million in total

The turnkey agreements are worth a combined EUR 270 million. The company obtained a EUR 390 million loan in July from the European Investment Bank (EIB) for its photovoltaic projects. The portfolio amounted to 816 MW.

The projects, which are at various stages of maturity, are conducted under subsidiaries North Solar, North Solar 1 and New Spes Concept.

DEPA Commercial’s new move comes after the government bought a 35% stake from Helleniq Energy. The company is now fully owned by the Hellenic Republic Asset Development Fund (HRADF or TAIPED). The transaction was completed at the turn of the year, when the vehicle also integrated the so-called Superfund.

DEPA Commercial starts producing biomethane for its fuel stations

Within its energy transition efforts, the gas giant is entering biomethane production as well. DEPA Commercial said early this month that it produced Greece’s first quantities of the fuel.

The new pilot unit, Farma Hitas (Chitas) in Filippiada in the country’s west, makes 97% pure methane and compresses it. The bio-CNG goes to the company’s Fisikon gas stations, where it is mixed with natural (fossil) gas and sold as vehicle fuel.

Ownership stakes in Alexandroupolis gas complex, IGB pipeline

As for its conventional business operations, DEPA Commercial holds a 29% stake in special purpose firm Ilektroparagogi Alexandroupolis (Alexandroupolis Electricity Production). PPC is the majority partner, with 71%.

They are building a combined-cycle gas turbine (CCGT) of 840 MW. In addition, DEPA Commercial owns 20% of the Alexandroupolis LNG Terminal and 25% of ICGB, which operates the Interconnector Greece-Bulgaria (IGB) gas pipeline.

The company is participating in the Fier Thermoelectric project for a 174 MW gas power plant in Albania. DEPA Commercial intends to supply some of the renewable electricity that it generates to its wholly-owned subsidiary Fysiko Aerio – Hellenic Energy Co. The gas and electricity distributor has more than 530,000 customers.

Notably, DEPA Commercial already owns an aggregator license – FOSE, allowing it to trade in the wholesale power market on behalf of a group of producers.

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April 23, 2025
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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.

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