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03/10/2011

ELPEDISON Power inaugurates its Power Plant

ELPEDISON Power inaugurates its Power Plant
ELPEDISON contributes to the stability and reliability of the system

ELPEDISON Power inaugurated its Natural Gas Fired Combined Cycle Power Plant, of 420 MW, at Thisvi

ELPEDISON Power launched today, October 3rd 2011, the new natural gas fired combined cycle Power Plant, with a total installed capacity of 420MW, at Thisvi in Viotia.

The inauguration ceremony was initiated by the Minister of Environment, Energy and Climate Change, Mr George Papakonstantinou. Furthermore, the Sub-Minister of the Ministry of Environment, Energy and Climate Change, Mr Yiannis Maniatis, Parliamentarians, representatives of the Region of Central Greece, guests from the Greek financial and business community as well as Shareholders’ representatives honored the inauguration ceremony with their presence.
 
From the side of HELLENIC PETROLEUM, the Chairman of the Board Mr Tassos Giannitisis,.the CEO Mr Ioannis Kostopoulos and the Executive Board Member Mr Theodoros Vardas, also President of ELPEDISON Holdings, did attend the event. EDISON has been represented by the CEO Mr. Bruno Lescoeur, the Chief Development Officer Mr. Roberto Potì and the Vice-President of EDISON HELLAS Mr. John Zisimos while ELLAKTOR has been represented by the Chairman of the Board, Mr Anastasios Kallitsantsis.

The inauguration event was also attended by representatives of institutions, third parties and companies from the broader Greek energy sector, partners and suppliers of ELPEDISON Power and representatives of the Media community.
 
The design and construction of the Power Plant lasted almost 3 years and absorbed an investment of 275 million euros. During the construction of the Plant, there were more than 250 people, on average, working on the site on a monthly basis, while during the peak of the construction period, the corresponding number exceeded 700 people. Overall, only within the site, more than 1,650,000 employee hours had been dedicated.

The ultramodern Plant facility is located on 100 acres of private land in the Industrial Zone of Thisvi, which operates under a context of clearly defined boundaries and land uses, approved street plan and infrastructure, thus ensuring both the minimization of any environmental nuisance and further industrial development.

The use of natural gas as fuel for the operation of the Plant, makes the electricity production process one of the most environmentally friendly, while the combined cycle technology ensures the most efficient use of fossil fuels, achieving an efficiency of about 56%.

The Chairman of the Board of ELPEDISON Power, Mr Andrea Testi, while welcoming the Guests to the inauguration ceremony, he stressed out that the “Mission of ELPEDISON Power is to contribute to the prosperity of the country with a responsible and sustainable manner, ensuring sufficient electricity production, using the most advanced, safe and environmentally friendly technology. "

It is worth noting that ELPEDISON Power has produced so far in 2011, through its two privately-owned Plants, at Thisvi and Thessaloniki, 3.2 million MWhs, which correspond to the 10% of the total production of the thermal and hydro units of the interconnected system.

The Chairman of the Board of Hellenic Petroleum, Mr Tassos Giannitsis, pointed out in his speech, among others, that "this investment contributes to the achievement of the objectives of the energy and environmental policy of the country."

On his part, the Chief Development Officer of EDISON, Mr. Roberto Potì, said inter alia that "EDISON is already present in Greece through investments and joint ventures with key local Groups and will carefully evaluate each initiative or business opportunity that will arise, following some expected government decisions."

The Chairman of the Board of ELLAKTOR Mr. Anastasios Kallitsantsis, emphasized inter alia "the absolute need for cleaning up and stabilizing the market conditions related both to the strategic energy planning as well as to the excise tax."

The CEO of ELEPDISON Power, Mr. Andreas Tzouras, completing the cycle of speeches, stressed out that "ELPEDISON Power with its two power plants and the 'sister' company of the Group, ELPEDISON Trading, now offers an integrated proposal in the market, including not only energy production but also energy trading and supply, always considering first the benefit of the end-consumer".  Mr. Tzouros gave also particular emphasis to the importance of the overall investment for Greece, wishing "the Plant of Thisvi to become the beginning for other similar ventures, strengthening the Greek economy and our country in general, especially so during a critical time-period for the Greek people, where economic growth is a necessary condition for coming out of the crisis”.



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