{"id":21497,"date":"2026-08-05T16:59:33","date_gmt":"2026-08-05T13:59:33","guid":{"rendered":"https:\/\/www.depa.gr\/?p=21497"},"modified":"2026-08-06T09:40:04","modified_gmt":"2026-08-06T06:40:04","slug":"larissa-thermoelectric-investment-moves-forward-construction-of-the-new-power-plant-awarded-to-avax","status":"publish","type":"post","link":"https:\/\/www.depa.gr\/en\/larissa-thermoelectric-investment-moves-forward-construction-of-the-new-power-plant-awarded-to-avax\/","title":{"rendered":"Larissa Thermoelectric Investment Moves Forward: Construction of the New Power Plant Awarded to AVAX"},"content":{"rendered":"<p><strong>5 August 2026<\/strong><\/p>\n<p><strong>Larissa Thermoelectric\u2019s<\/strong> investment in the new natural gas-fired power plant in the Larissa Industrial Area has entered a new and particularly significant phase of development. On Friday, 31 July 2026, the company decided to award <strong>AVAX S.A<\/strong>. the contract for the construction of the combined-cycle power plant and the associated substation that will support its operation.<\/p>\n<p>This development marks a significant milestone for one of the largest energy projects currently under development in Greece and confirms that the investment is progressing according to schedule. <strong>The Final Investment Decision (FID)<\/strong> is expected to be reached before the end of 2026, paving the way for the commencement of construction works.<\/p>\n<p>The new unit, with a net capacity of <strong>794 MW<\/strong>, will be the first in Europe to deploy Mitsubishi Power\u2019s advanced <strong>M701JAC<\/strong> technology. Featuring exceptionally high efficiency and the capability to operate in the future on blends of natural gas and hydrogen, it will be the most advanced and efficient power plant of its kind in Greece, enhancing the flexibility and reliability of the country&#8217;s electricity system.<\/p>\n<p>Construction of the plant and the associated substation is expected to be completed within <strong>38 months<\/strong> following the FID, while the investment is anticipated to become a landmark project for Thessaly\u2019s energy transition.<\/p>\n<p>The investment is being developed by <strong>Larissa Thermoelectric S.A.<\/strong>, whose shareholders are <strong>Clavenia<\/strong> with a 38.5% stake, <strong>Sirec Energy<\/strong> with 16.5%, <strong>Volton<\/strong> with 10%, and <strong>DEPA Commercial<\/strong> with 35%, the latter playing a central role in the management and operational execution of the project.<\/p>\n<p>The new plant will add modern, highly efficient and flexible generation capacity to the Greek electricity system, contributing to meeting the growing needs of the energy system throughout the energy transition. The deployment of advanced technology will enhance the project&#8217;s operational efficiency and create the conditions for even greater flexibility in the future.<\/p>\n<p>At the same time, the project is expected to serve as a significant growth driver for Thessaly, strengthening the region\u2019s position within Greece&#8217;s national energy planning and generating new economic activity during both the construction and operational phases of the plant.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>The General Manager of Larissa Thermoelectric, Mr. Dimitrios Tambakis, stated:<\/strong><\/p>\n<p><em>&#8220;The award of the construction contract marks a decisive milestone in the implementation of this investment and confirms our commitment to advancing, with consistency and speed, the development of a unit that will set new standards of efficiency in electricity generation. In this way, the new plant will make a substantial contribution to the stability of the electricity system and to the secure integration of an ever-increasing share of electricity generated by Renewable Energy Sources.<\/em><\/p>\n<p><em>At the same time, this is an investment with a strong development impact. During its construction and operation, it will create significant opportunities for the local economy and employment across the wider Larissa region. \u03a4<\/em><em>he addition of a new, highly efficient generation unit to the electricity system will also strengthen competition in the electricity market, ultimately benefiting consumers.&#8221;<\/em><\/p>\n<p><strong>The Managing Director of AVAX Group, Mr. Konstantinos Mitzalis, commented:<\/strong><\/p>\n<p><em>&#8220;The agreement we are signing today with \u201cLarissa Thermoelectric\u201d represents yet another tangible recognition of our Group&#8217;s extensive experience in delivering major energy projects. At the same time, it presents a new challenge for us: to deliver another demanding project on time and to the highest quality standards, further strengthening the AVAX Group&#8217;s footprint in Greece&#8217;s energy infrastructure.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>5 August 2026 Larissa Thermoelectric\u2019s investment in the new natural gas-fired power plant in the Larissa Industrial Area has entered a new and particularly significant phase<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":2,"featured_media":21494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,37],"tags":[],"class_list":["post-21497","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>Larissa Thermoelectric Investment Moves Forward: Construction of the New Power Plant Awarded to AVAX - 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