{"id":19575,"date":"2025-07-30T16:03:18","date_gmt":"2025-07-30T13:03:18","guid":{"rendered":"https:\/\/www.depa.gr\/?p=19575"},"modified":"2026-08-05T17:21:41","modified_gmt":"2026-08-05T14:21:41","slug":"new-power-generation-plant-in-larissa-a-landmark-investment-of-strategic-importance-for-depa-and-greece","status":"publish","type":"post","link":"https:\/\/www.depa.gr\/en\/new-power-generation-plant-in-larissa-a-landmark-investment-of-strategic-importance-for-depa-and-greece\/","title":{"rendered":"New Power Generation Plant in Larissa: A Landmark Investment of Strategic Importance for DEPA and Greece"},"content":{"rendered":"<p><em>2 June 2025<\/em><\/p>\n<p>The new combined cycle power plant in Larissa, with a net capacity of 792 MW and a budget of \u20ac600 million, is one of the most significant energy investments in Greece in recent years. DEPA Commercial participates as a strategic partner, reinforcing its role in the country\u2019s energy security and in accelerating the green transition.<\/p>\n<p>The plant will make a substantial contribution to optimizing the energy mix, enhancing market competition, and reducing energy prices for both consumers and businesses. It also upgrades the region of Thessaly into a critical energy hub with broader development prospects.<\/p>\n<p>The investment is being implemented by the company <strong>LARISSA THERMOELECTRIC S.M.S.A.<\/strong>, which was wholly owned by <strong>Clavenia Ltd.<\/strong> until DEPA entered its shareholding structure. DEPA Commercial now holds a 35% stake and plays a key role in the company&#8217;s governance, having appointed the <strong>Chairman of the Board<\/strong> and the <strong>CEO<\/strong>. Through a Service Level Agreement (SLA), DEPA will also manage the plant&#8217;s energy output and will supply the facility&#8217;s entire natural gas needs under market terms.<\/p>\n<p>The project has already secured all required administrative and technical approvals, and construction can begin immediately. The financial evaluation and fairness opinion of the transaction were conducted by <strong>Deloitte<\/strong>, while legal, regulatory due diligence and documentation were provided by <strong>Papapolitis &amp; Papapolitis<\/strong>, one of Greece\u2019s most reputable law firms in complex transactions and energy projects.<\/p>\n<p>In parallel, the shareholders are already exploring additional investment schemes in the broader Thessaly region, in the fields of <strong>energy storage<\/strong> and <strong>clean energy infrastructure<\/strong>. These synergies with the Larissa investment will make the city a key reference point for the next phase of Greece\u2019s energy transition.<\/p>\n<p><strong>Strengthening DEPA Commercial\u2019s Position in the New Energy Landscape<\/strong><\/p>\n<p>DEPA Commercial\u2019s participation in this flagship project marks a decisive step toward <strong>vertical integration<\/strong> and a stronger presence in the electricity market. The company is expanding its role from <strong>natural gas supplier<\/strong> to <strong>active and responsible power producer<\/strong>, with a strategic focus on <strong>sustainable growth<\/strong> and <strong>creating added value<\/strong> for the economy and society.<\/p>\n<p>Through <strong>fuel supply<\/strong>, <strong>energy management<\/strong>, <strong>balancing mechanisms<\/strong>, and <strong>Power Purchase Agreements (PPAs)<\/strong>, DEPA enhances its portfolio diversification and advances the implementation of its strategic plan for the next decade.<\/p>\n<p><strong>A High-Impact Investment on a National and Local Level<\/strong><\/p>\n<p>The new plant will significantly enhance Greece\u2019s energy security by providing additional capacity with high availability and flexibility, particularly important in a system facing increasing challenges due to the rising share of renewables. Leveraging combined cycle technology and high efficiency, the plant will offer <strong>cleaner and more efficient electricity production<\/strong>, contributing to the <strong>decarbonization<\/strong> of the energy mix.<\/p>\n<p>The project strengthens Thessaly\u2019s position in the national energy strategy and is expected to create significant opportunities for the <strong>local economy and employment<\/strong>, both during construction and in the operational phase.<\/p>\n<p>At the same time, increasing competitiveness in electricity generation through <strong>new-generation, high-efficiency plants<\/strong> will contribute to <strong>price stability and reduction<\/strong> for consumers, businesses, and industry\u2014especially crucial at a time when energy costs are a major source of economic pressure.<\/p>\n<p><strong>DEPA Commercial Invests in the Energy Future<\/strong><\/p>\n<p>With this investment, <strong>DEPA Commercial reaffirms its role as the strategic public pillar<\/strong> in the new energy era. Acting with consistency, technical competence, and strategic foresight, it is delivering projects that serve <strong>national priorities<\/strong> and open up <strong>development prospects<\/strong> for local communities, the economy, and the company itself.<\/p>\n<p>The Larissa investment is not an isolated project. It is the first step of a <strong>broader plan<\/strong> that places DEPA at the heart of energy developments. With clear direction, high-level partnerships, and a long-term vision, DEPA Commercial is shaping its own path on the <strong>new energy map of Greece and Southeastern Europe<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2 June 2025 The new combined cycle power plant in Larissa, with a net capacity of 792 MW and a budget of \u20ac600 million, is one<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":3,"featured_media":13246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,37],"tags":[],"class_list":["post-19575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Power Generation Plant in Larissa: A Landmark Investment of Strategic Importance for DEPA and Greece - 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