Greece invests in floatovoltaics

TERNA ENERGY, a company of the GEK TERNA group, one of the most active groups in Greece in the construction and energy production fields with more than 50 years of business and which currently operates a total energy capacity of 1,800 MW across Central and Eastern Europe and in the United States, is expanding its floating solar systems based on the technology’s obvious economic and environmental benefits.

The company is set to build three “floatovoltaic” plants in Greece on an equal number of artificial tanks that will deliver a total capacity of around 265 MW. The investment is expected to top €170 million.

The plants exploiting this innovative clean energy production technology will be built on 3 artificial water basins located within Greek territory: 120 MW in Kastraki, 103 MW in Pournari and 42MW in the military artificial basin.

But what are the real benefits of a floating solar plant?
A floating solar plant can be installed at practically the same cost of a conventional plant but it has the added advantage that it can deliver greater energy production, it does not exploit the soil and it reduces water evaporation. 

With the introduction of these three floating PV systems, Greece will be one step closer to reaching its current energy goal of over 3 GW – from 2.8 GW – total installed capacity within the next 5 years.

TERNA ENERGY group’s investment is in addition to the previously announced initiatives in its investment plan regarding clean energy production and storage, including the development of wind farms and deployment of pumped energy storage systems in Greece.