The EUNICE ENERGY GROUP (EEG) announced it will proceed to the immediate implementation of its two major energy storage projects in Ptolemaida and Megalopolis.

The group got the “green light” for the fast response energy storage projects, PTOLEMAIDA BESS and ARCADIA BESS, by the Regulatory Authority for Energy (RAE).

The investment amounts to 600 million euros. Innovative techniques in the field of large-scale energy storage will be applied, integrating lithium-ion battery technology, which ensures reliability, response speed and competitive costs.

The EEG Group plans to start construction of the two large-scale energy storage stations in 2021 and hopes they will be fully operational by 2022, if approvals of the remaining procedures (environmental permit terms and construction permits) are completed in time.

The company notes that the two projects in Ptolemaida and Megalopolis, each of them with similar capacity 250MW / 1000MWh are “emblematic investments of the new era of economic and energy transformation of Greece and Europe”.

It also notes that the projects will “decisively contribute to the national economy growth and extroversion, will enhance the international technological and investment cooperation, while supporting local economies and employment. The experienced workforce of the two areas is expected to participate in all phases of construction and operation of the projects, providing its specialized knowledge and services“.

The projects will serve the objectives of the Greek National Plan for Energy and Climate, which provide for increased energy production from Renewable Energy Sources (9000MW of new RES stations by 2030) while all existing lignite stations will be closed.

Energy storage units are a basic condition for the safe and effective development of electricity production from RES. They also serve the energy security and self-sufficiency of the country.

The PTOLEMAIDA BESS project has been announced by the Greek government and the Ministry of Environment and Energy, as one of the first 16 flagship decarbonization investments.

The lithium battery and other subsystems used in the two stations will be produced in Greece. In the Region of Western Macedonia, preparations are being made for the production of lithium-ion battery technology (Li-ion battery technology).