MYTILINEOS Group obtained the commercial operation license for its 3rd combined cycle natural gas fired power plant – the 436 MW plant of Korinthos Power, the joint subsidiary of MYTILINEOS Group (with a 65% share) and MOTOR OIL (with a 35% share). The plant is located at the Motor Oil industrial facilities in Ag. Theodori, Korinthia. With more than 1,200 MW from thermal plants in operation, MYTILINEOS Group is established as the largest independent electricity producer in Greece.
Engineering, procurement, construction and commissioning for the plant, including the closed-type power substation, were undertaken and carried out successfully by METKA S.A., a MYTILINEOS Group subsidiary, whose performance exceeded all guaranteed targets. The assistance provided by MOTOR OIL was also key to the successful completion of such a project, within its industrial facilities.
The Korinthos Power plant, together with the Group’s plant in Ag. Nikolaos, Viotia, are state-of-the-art, high-efficiency power plants that help significantly to reduce electricity production costs from natural gas, to the benefit not only of consumers, but also of the national economy. The location of the plant within the country’s South System is a factor that contributes to its stability.
The entry into operation of MYTILINEOS Group’s 3rd thermal plant marks the completion of the first phase of the Group’s investment plan in the Energy sector, which totalled €1 billion and comprised construction and operation of 3 thermal plants (2 in Ag. Nikolaos, Viotia, and 1 in Ag. Theodori, Korinthia), together with numerous wind farms and photovoltaic parks. The Group is currently stepping up its investments in RES, aiming to have in operation a total of 400 MW of ‘green’ energy assets by 2015.
For more details, please contact:
Mrs Katerina Mouzouraki, MYTILINOS Group Press & Media Relations Supervisor (Tel.: 210 6877484, Fax: 210 6877400, e-mail: [email protected]).
MYTILINEOS Group is a leading Greek industry active in Metallurgy & Mines, Energy and EPC Projects. Established in Greece in 1990, the Group’s holding company, MYTILINEOS HOLDINGS S.A., is listed on the Athens Exchange, has a consolidated turnover in excess of €1.6 billion and employs some 2,500 people directly and many more indirectly in Greece and abroad. For more details, please visit the Group’s website at: www.mytilineos.gr.
