Ptolemaida power station

From Global Energy Monitor

Ptolemaida power station is a 550-megawatt coal-fired power station in Greece. A fifth unit of 660 MW, Ptolemaida V, is under construction.

Location

The undated satellite photo below shows the original Ptolemaida power station in Western Macedonia, Greece.

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The Ptolemaida expansion is being built at a separate site approximately 5 miles north of the original power station. The photo shows the project site for Ptolemaida V.

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Background

The plant had five units of 620 MW. The first unit was commissioned in 1959 and the last in 1973. Unit 1 (70 MW) was retired on 18 June 2010 after 50 years of operation. It is owned by Public Power Corp (DEH), and fueled by the adjacent Ptolemais-Amyntaio lignite coal basin. Unit 2 is on standby mode.[1][2]

Units 3 and 4 were destroyed in a fire in 2014.[3]

Ptolemaida V expansion

Ptolemaida V is to be the fifth coal-fired unit at the Ptolemaida power station, with a generating capacity of 660 megawatts. In 2012, the total budget for the construction of the plant was estimated 1.32 billion euros. German development bank KfW agreed to cover approximately half of construction costs.[4]

The plant was permitted in March 2013.[5] In April 2013 Terma SA and Hitachi Power Europe were chosen to construct the plant.[6]

The plant will be constructed on the site of a dismantled lignite mine. Construction is set to begin in 2015, and the plant is scheduled to begin commercial operation in 2019.[7]

In September 2015, PPC said it planned to begin construction on Ptolemaida V once "the necessary checks and procedures are concluded."[8] However, according to the WWF, the start of construction requires a deposit of 400 million euros within 2015, which will come from the public company's funds at a time when the Greek government is facing mounting debts: "it is completely irrational for any publicly-owned company to disburse 400 million euros for a project that is economically non-viable."[9]

Construction on the new unit began in 2016.[10] It is now planned for 2022.[11]

In December 2019, plant sponsor PPC said it will finish construction of the lignite coal plant by 2022 and operate it until 2028, the year of Greece's planned coal phase-out. Environmental organizations have advocated to transform the half-built plant into sustainable energy infrastructure instead.[12]

In May 2021, Greece said it was moving up its coal phaseout to 2025, rather than 2028. As a result, PPC said it will likely convert Ptolemaida into a gas-fired unit in 2025.[13]

Financing

In 2015, the expansion total cost was estimated at 1.4 billion euros. German development bank agreed to provide a 739 million euro bond loan in 2013, supported by the German Export Credit Agency Euler Hermes and arranged by the KfW IPEX Bank. Besides KfW, the project has struggled to secure funding.[14] The European Investment Bank has withdrawn funding from the expansion project because of its high levels of CO2 emissions and other pollutants.[15]

Opposition

In April 2014 WWF Greece and WWF Germany met with the KfW Bank Group, in order to hand over the petition signed by 15,000 citizens calling the development bank to refrain from financing Ptolemaida V.[16] The German government has been repeatedly criticized for coal lending: From 2006 to 2013, German taxpayers put up roughly €3.3 billion in overseas export and development credits linked to coal.[15]

Project Details of expansion

  • Sponsor: Public Power Corporation of Greece
  • Parent company:
  • Developer: Terma SA, Hitachi Power Europe
  • Location: Ptolemaida, Eordaia, West Macedonia, Greece
  • Coordinates: 40.48933960813644, 21.774474075217174 (exact)
  • Status: Construction
  • Capacity: 660 MW
  • Type: Ultra super-critical
  • Start date: 2022
  • Coal Type: Lignite
  • Coal Source:
  • Source of financing: KfW Bank

Articles and Resources

Sources

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