A groundbreaking ceremony was successfully held in Domokos, marking the start of construction of one of Greece’s largest hybrid renewable energy generation projects, jointly developed by METLEN and Tsakos Group.
The event marked the transition of the two companies’ strategic partnership to the next, substantive phase of construction. The ceremony was attended by representatives of the Hellenic Parliament, the Governor of Central Greece, the Mayor of Domokos, representatives of local authorities, as well as representatives of institutional and business organisations.
The project comprises a 251.9 MW photovoltaic power plant, combined with an energy storage system with an expected capacity of 375 MWh. It is being developed through a jointly owned special purpose vehicle, in which Tsakos Group holds a 60% stake and METLEN 40%. METLEN has undertaken the construction of the project, as well as the energy and commercial management of the facility.
The project represents an investment of particular significance for Central Greece and the country’s energy transition, combining clean energy generation with large-scale energy storage. At the same time, it creates opportunities for growth and broader benefits for the region, with an emphasis on continuous cooperation with local authorities and communities.
Captain Panagiotis Tsakos, Founder of Tsakos Group, said: “Today is a special day for all of us and, for me personally, even more so. It marks the beginning of an important project, as well as our contribution, through our own efforts, to shaping a more sustainable energy future for our country. This is a project that is not only about generating electricity. It is about harnessing the natural potential of the Greek land, technological progress, energy security and, above all, our responsibility towards future generations.”
Nikos Tsakos, CEO of TEN Ltd., said: “In shipping, we learned how to transport energy from one end of the world to the other. Through our Group’s vessels, we have been part of this global effort for decades, transporting energy resources that drive the economy, power industry and support the daily lives of millions of people.
With our project here in Domokos, we are taking another step forward. From transporting energy, we are now also moving into generating it. From sea to land. From ships transporting energy around the world to projects that harness the Greek sun and store its energy so that it is available when society needs it.
At the same time, our partnership with METLEN Group demonstrates what can be achieved when internationally active Greek businesses join forces, combining shared values, expertise, an outward-looking mindset and a commitment to contributing to the country.”
Evangelos Mytilineos, Executive Chairman of METLEN, said: “Today marks the transition from planning to implementation. Together with Tsakos Group, we are moving forward with an investment of particular significance for the country’s new energy system, leveraging METLEN’s expertise and international experience in the construction and management of complex energy projects. At the same time, we want this project to develop in close connection with the region and to create meaningful value for the local community and the Greek economy.”
The start of construction represents another important milestone in the cooperation between the two Groups and paves the way for the development of next-generation energy infrastructure that will contribute to security of supply, greater flexibility of the electricity system and the further utilisation of Greece’s renewable energy potential.
Building on its proven international experience in delivering complex hybrid projects that combine solar power generation and energy storage, METLEN, through strategic partnerships such as its collaboration with Tsakos Group, is further strengthening its leading role in the country’s energy transition and shaping the Utility of the future.
The investment is being implemented with loan support from the European Union’s Recovery and Resilience Facility – NextGenerationEU.
