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Greek shipping ‘giant’ Tsakos to invest 500 mln euros in Greece in solar park project

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The Tsakos family is making an impressive opening in the field of Renewable Energy Sources (RES) in Greece, as it plans to invest an estimated half a billion euros in a mega photovoltaic park in the area of ​​Domokos, in Thessaly, central Greece with a capacity of 251,904 MW.

According to reports, the project will be about 500 MW, with the total investment estimated to approach 500 million euros.

The opening of the Tsakos family in the field of RES has been confirmed by the head of the Tsakos Energy Navigation (TEN) Dr. Nikolaos Tsakos. In a recent interview, referring to the need to protect the planet, he spoke about the shift to RES and the projects implemented by the Group in South America (where the Tsakos family owns large areas of land) and Europe, with an emphasis on photovoltaics.

“All of our top clients invest in R&D in the field, so it makes sense for us as part of the chain to look at similar opportunities. We are investing in photovoltaics, being investors in perhaps one of the largest photovoltaic projects in Europe”, he said.

The reports state that this large green investment in Greece will be implemented in collaboration with the German energy solutions company MAN, while it also combines the use of innovative energy storage technology.

Specifically, the project is run by the company “Energy Hyperion SA”, which submitted the relevant application in December 2020 for the issuance of a certificate of electricity producer from a photovoltaic station to the Greek Regulatory Authority for Energy (RAE), with an installed capacity of 251.904 MW and a maximum production capacity of 251.904 MW at the location of Achladia of the Municipal Unit of Domokos Fthiotida. Last June, an application was submitted to amend the Producer Certificate regarding the extension of the boundaries of the photovoltaic station installation site, which was approved by RAE on October 26th.

TEN Ltd. is one of the largest independent transporters of energy in the world owning a versatile fleet of modern crude and product tankers with strong ice-class capabilities, shuttle tankers, and liquefied natural gas (“LNG”) vessels. Ever since its inception TEN Ltd. has had an exceptional record of growth. Leveraging over 50 years of expertise of the Group, the Company has established a solid reputation as an experienced and efficient operator of well-maintained tankers, who proactively meet customers’ energy-transportation requirements globally.

Nikos Tsakos was recently honoured in New York with the award of the most successful businessman in Shipping in the context of the 27th International Maritime Hall of Fame Awards.