Public Power Corporation chairman and chief executive Μ. Panagiotakis has signed a memorandum of understanding with CMEC assistant president Fang Yanshui.
It says this is this is a decisive step for the construction of the second, state of the art, lignite unit in the Meliti power plant (Florina) within the framework of setting up an independent joint venture, where PPC, CMEC and the owners of the lignite mines which will supply lignite to the power plant will participate (Meliti project).
This is an investment in the order of €700m for the construction of the Unit, whereas including the significant capex for the mines, the total amount will exceed €1bn, contributing to further upgrading lignite-fired generation with a state of the art unit which will have an efficiency rate of 41.5%, while at the same time minimising CO2 emissions.
This investment combined with the scheduled decommissioning of older units will improve both the competitiveness of lignite-fired generation and the environmental footprint.
PPC says this is not only beneficial for the company, but for the Greek economy as well.