“Green” initiatives and pivotal projects that are changing the country’s energy landscape
Amid an unprecedented energy crisis and the significant geopolitical turmoil that Europe is experiencing today, the decarbonization of the energy mix is anticipated to be a key trend in Greece and the EU.
We believe the transition process to domestic renewable energy sources must be accelerated. In this landscape, our country can take advantage of its comparative advantages. With sun and wind in abundance, Greece has the potential to become energy independent and chart its own path in the use of Renewable Energy Sources (RES), setting an example for all of Europe.
Principia, adhering to the UN’s sustainable development goals, facilitates the smooth energy transition of businesses to a net-zero economy by utilizing RES. At the same time, it offers reliable, competitive, tailor-made energy solutions from RES, helping companies to exploit business opportunities and draw financial resources from European funds.Thanks to the reduction in the cost of technology and the increased demand due to decarbonization, in the next 10 years, 70% of new installed capacity will come exclusively from wind and solar farms, while, by 2050, 50% of electricity will be produced from wind and solar energy.
Principia, in its 16 year-operation in Greece, possesses the know-how for the construction of new RES projects, as it has a leading role in wind energy production, with an installed capacity in the country reaching a total of 518.6 MW including the Kafireas Wind Cluster, in South Evia. At the same time, the Perasma Solar Cluster, consisting of 7 projects, adds 95 MW to Principia’s total installed capacity, and contributes decisively to the decarbonization of Western Macedonia. With extensive investments in RES in the coming years, we are demonstrating in practice our mission to transition to cleaner forms of energy.
Storage Technology Projects
Renewable energy sources are at the forefront of the effort to achieve the goals set by our country, according to the National Energy and Climate Plan. Battery storage stations can make a catalytic contribution to this effort and lead to a significant increase in the penetration rate of RES production in the country’s energy mix.
Principia’s first storage project is the Battery Energy Storage System plant “Themelio” in Chalkidiki, with an installed capacity of 127 MWh (49MW). With storage through batteries, the project maximizes its operation, feeding energy into the grid even on days without sunshine.
Improving grid utilization and generation profile through hybridization
Principia leads the hybridization initiatives for RES projects which will work for the benefit of Greek businesses. Hybridization, i.e., the combination of different RES technologies, is an essential solution for achieving a safe and stable integration of RES into the energy mix, increasing the system’s reliability. Through hybridization, the use of the grid is optimized as the utilization factor increases, the “thoughtfulness” of RES decreases, and, as a result, the projects become controllable and easily distributed.
The investment cost of hybridization is low since both technologies use the same infrastructure. The cost of balancing electricity and the cost of the end consumer is also reduced since the combination of technologies allows for improved control and adjustment of energy injection on the network.
Amid the energy crisis that Greece and Europe are experiencing, producing energy from RES offers a way forward for businesses. Principia, with its know-how, innovation, extensive experience through its presence in various markets around the world, and the scientific and technological training of its people, has the reliability and internationally recognized prestige, to promote RES as a vital component of the country’s energy mix, and support local communities and businesses in the energy transition. Principia is a pioneer in integrating innovative technologies into renewable energy projects while constantly investing in breakthrough projects that change the country’s energy landscape in the coming years.
Sustainable development with targeted “green” initiatives
Our contribution to the local communities of the areas where we operate, throughout Greece, is a central pillar of our action. Through special programs, volunteering action, reforestation, donations and support to cultural initiatives, we are in constant interaction with communities and prove in practice our commitment to sustainable development. Actively supporting Organizations, Foundations, NGOs, Communities, Institutional Bodies and Civil Protection Corps, we have implemented, since 2020, more than 320 support initiatives throughout the country.
We created the educational program “Vamvakies a Social Green Project”, in collaboration with Wise Greece and the Bioeconomy & Environment Cluster of Western Macedonia (CluBE) under the auspices of the Municipality of Kozani, to support entrepreneurship in the wider region. At the same time, we implement innovative Circular Economy projects that create a positive impact on local communities, as well as initiatives to address energy needs in areas where we operate.