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Endesa Hellas S.A. applies for renewal of license for gas-fired plant in Volos, to build two additional gas-fired plants of 440 MW capacity within next 5 years
Endesa Hellas S.A. applies for renewal of license for gas-fired plant in Volos, to build two additional gas-fired plants of 440 MW capacity within next 5 years
Published 01-04-11
Submitted by MYTILINEOS Holdings S.A.
Endesa Hellas S.A. announced today it has applied for a renewal of its installation license for its Volos combined cycle gas turbine plant which will have a capacity of 440 MW when built.
Greek natural gas monopoly DEPA and Endesa Hellas will co-operate to build a new pipeline to the plant.
The first feasibility study and the environmental impact assessment have been performed for the Volos plant, the company said.
Endesa Hellas has also decided to build two additional gas fired plants of 440 MW capacity within the next five years and is investigating sites and preparing proposals.
The company is targeting a 14% market share of the Greek electricity market by 2015 and the company's activities will include thermal and renewable assets.
Metals and engineering company Mytilineos has a 49.9% stake in Endesa Hellas, while the remainder is owned by Spain's Endesa.
MYTILINEOS Holdings S.A.
MYTILINEOS Holdings S.A.
The MYTILINEOS Group is active in the sectors of Energy, Metallurgy and Mining and EPC projects (Engineering-Procurement-Construction). Since its establishment, in 1990, its development has been outstanding and today it is considered one of the country's leading industrial groups, with significant international activity and listed on the Athens Exchange (ATHEX).
With a workforce of 2,000 employees in Greece and abroad, the Group's hard and fast goal is business excellence, always in accordance with the principles of Corporate Social Responsibility and demonstrating in all its activities its respect for the environment, society and people.
Activities
In metallurgy and mining the Group has established itself as one of the leading groups in S.E. Europe and the Middle East in the sector of production and trading of alumina and aluminium via its subsidiaries, Aluminium of Greece and Delpoi - Distomon.
Moreover, the MYTILINEOS Group has evolved into the leading independent energy producer in Greece through carefully planned strategic partnerships and business decisions. The group activates in this sector via M&M Gas, a company jointly established with MOTOR OIL for the supply and trade of natural gas and PROTERGIA, the company that came into being through the 100% acquisition and operation of ENDESA HELLAS, with its activities including the development and operation of thermal power plants and of renewable energy sources, as well as the trading of electrical power and CO2 emissions.
Regarding EPC projects, the Group has established its presence in the sector through its METKA subsidiary which has developed into the leading EPC Company (Engineering-Procurement-Construction) in Greece and is acknowledged as one of the most specialized and internationally renowned constructors of energy projects in Europe. METKA, which is listed on the Athens Stock Exchange, implements turn-key projects from their engineering and procurement stage to their construction, primarily for combined-cycle, conventional thermal and hydroelectric power plants.
The dynamic business growth of the MYTILINEOS Group is fully aligned with the principles of Corporate Responsibility and Sustainable Growth. For the Group, the concept of Sustainable Growth is synonymous to seeking business excellence while remaining committed to its vision and respecting society, the environment, its people and its shareholders, and to ensuring the harmonious coexistence of its business activities with the needs of the local communities where its operations are located. In this context, the Group is actively supporting major initiatives in the domains of Culture, Education, and the protection of the Environment.
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