Greece: Building permit for Ptolemaida 5 station expected within 10 days, Investors
The construction stage of Ptolemaida 5, main power utility PPC’s plan for a new lignite-fired power station in Ptolemaida, northern Greece, has taken one step closer to starting following PPC’s submission of technical details to local authorities for a building permit.
The project’s construction is expected to be given the green light by regional building authorities within the next ten days. PPC reportedly submitted over twenty file boxes of technical documents for the authorities to examine.
Theoretically, PPC may be in a position to begin construction work on the project by the end of this month.
However, it should be noted, financing issues remain unresolved. They include an obligation by PPC to provide a deposit of 200 million euros to the project’s consortium just several days after the construction permit has been issued by authorities, based on a project agreement. Otherwise, its content will be nullified, meaning that PPC would miss out on extremely favorable financing terms agreed to with German banks for the project.
PPC contends the project’s deposit amount is not an issue and will be paid on time.
Besides the plan to construct Ptolemaida 5, an effort is also being made to reactivate and prolong the life of Ptolemaida 3, an old power station at PPC’s Ptolemaida facilities. It incurred minor damages during a fire that broke out last November and devastated an adjacent power station, Ptolemaida 4. Production Reconstruction, Environment and Energy Minister Panagiotis Lafazanis recently forwarded a letter to the European Commission requesting permission to reactivate Ptolemaida 3.
- June 14, 2023 The Serbian Institute for Critical Materials launches a regional mining platform for knowledge exchange
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- August 13, 2023 Environment South East Europe Watch temporarily suspends the activity
- August 9, 2023 Regional Coalition Aims to Protect Up to 400 Kilometres of Rivers Across Southeast Europe
- August 9, 2023 Meeting Serbia’s Energy Needs: A Smart Siting Map for Solar Power