In an effort to boost Greeceâs decarbonization efforts and phase out the countryâs polluting lignite plants, a group of companies formed by the largest energy groups in the country have submitted the national proposal for White Dragon, in the framework of the Greek call for expression of interest for Hydrogen Important Projects of Common European Interest.
âThe White Dragon project indeed involves in the first line renewably produced hydrogen. The vast space of the lignite fields allows especially solar production,â Hydrogen Europe Secretary General
Jorgo Chatzimarkakis told New Europe on May 28.
DEPA Commercial, as project coordinator, in collaboration with Advent Technologies, Copelouzos Group through Damco Energy, Public Power Corporation (PPC), DESFA, Hellenic Petroleum, Motor Oil, Corinth Pipeworks, Trans Adriatic Pipeline (TAP) and Terna Energy submitted on May 5 to the Greek Government and the European Union their investment proposal which exceeds the a
Reuters
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Greece s biggest oil refiner Hellenic Petroleum (HEPr.AT) posted a 53% fall in first quarter core profit on Thursday as refining margins were hurt because of lower demand for transport fuel amid coronavirus restrictions in Europe.
Stripping out oil inventory holdings, Hellenic said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 60 million euros ($73 million) in the first quarter, down from 128 million euros in the same period last year.
Higher costs for carbon emission rights under a new European Union emissions trading system also weighed on performance.
($1 = 0.8199 euros)
Greece eyes green energy shift with $21 billion in projects
Solar power plant in Tilos, Greece. Credit: Wikimedia Commons
Greece’s plan for using European Union funds to combat the effects of the coronavirus pandemic will accelerate the nation’s transition from fossil fuels to a greener economy, a government adviser said.
Both domestic and foreign companies are expected to step up after almost 18 billion euros ($21 billion) of public and private funds were earmarked for everything from solar panels to energy storage, said Vassilis Antoniades, head of the financial services practice for Central Europe and Middle East at Boston Consulting Group Inc.
Mitsotakis, Zaev Review Major Investments Between Greece and North Macedonia thenationalherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalherald.com Daily Mail and Mail on Sunday newspapers.
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