METLEN and Tsakos Group launch construction of 251.9MW hybrid renewable energy project

According to the companies’ announcement, the event marked the transition of their strategic partnership into its next substantive phase: construction. The ceremony was attended by members of the Hellenic Parliament, the Regional Governor of Central Greece, the Mayor of Domokos, representatives of local government, as well as representatives of institutional and business organisations.

The project comprises a 251.9 MW photovoltaic park combined with an energy storage system with an expected capacity of 375 MWh. It is being developed through a joint special-purpose vehicle (SPV), in which the Tsakos Group holds a 60% stake and METLEN holds the remaining 40%. METLEN has undertaken responsibility for the construction of the project, as well as the energy and commercial management of the facility.

The project represents a particularly significant investment for Central Greece and the country’s energy transition, combining large-scale clean energy generation with energy storage. At the same time, it is expected to create development opportunities and deliver broader benefits to the region, with an emphasis on sustained cooperation with local authorities and communities.

Captain Panagiotis Tsakos, Founder of the Tsakos Group, stated:

“Today is a special day for all of us, and even more so for me personally. It marks the beginning of an important project, as well as our contribution, through our own efforts, to shaping a more sustainable energy future for our country. This project is about much more than electricity generation. It is about harnessing the natural potential of the Greek land, technological progress, energy security and, above all, our responsibility towards future generations.”

Nikos Tsakos, CEO of TEN Ltd., commented:

“In shipping, we have learned how to transport energy from one side of the world to the other. Through our Group’s vessels, we have been part of this global effort for decades. We transport energy resources that drive the economy, fuel industry and support the daily lives of millions of people.

“With our project here in Domokos, we are taking another step forward. We are moving from transporting energy to generating it as well. From the sea to the land. From ships that transport energy around the world to projects that harness the Greek sun and store energy so that it is available whenever society needs it.

“At the same time, our partnership with the METLEN Group demonstrates what can be achieved through collaboration between internationally active Greek companies that share common values, expertise, an outward-looking business approach and a commitment to contributing to their country.”

Evangelos Mytilineos, Executive Chairman of METLEN, stated:

“Today marks the transition from planning to implementation. Together with the Tsakos Group, we are moving forward with an investment of particular importance for the country’s new energy system, leveraging METLEN’s expertise and international experience in the construction and management of complex energy projects.

“At the same time, we want this project to be developed in close cooperation with the local community and to generate tangible value for the region and the Greek economy.”

The commencement of construction represents another important milestone in the cooperation between the two Groups and paves the way for the development of a next-generation energy infrastructure project. The facility is expected to contribute to security of supply, enhance the flexibility of the electricity system and further unlock Greece’s renewable energy potential.