Power generation, renewable energy and strong business names unite in a deal that changes the balance in the energy market. Metlen, owned by Evangelos Mytilineos, and the Tsakos shipping group have signed a strategic agreement for the development of a major hybrid power generation project in Greece, confirming that the energy game now clearly passes through renewable energy sources and storage.
According to the agreement, the two parties are proceeding with the creation of a special purpose joint venture, in which the Tsakos group will hold 60% and the listed Metlen 40%. The joint venture will undertake the development, construction, operation and commercial management of a hybrid renewable energy power station with an integrated storage system, an element now considered critical for the stability of the energy system.
The project includes a photovoltaic park with a total capacity of 251.9 MW, as well as an energy storage system with an estimated capacity of 375 MWh. This is one of the largest investments of its kind in Greece, which is expected to significantly strengthen the participation of renewables in the energy mix and contribute to reducing dependence on fossil fuels.
The project will be located in Central Greece, a region with increased investment interest in the green energy sector. Implementation of the investment is expected to begin within 2026, with the goal of completion in early 2028, during a period when demand for “clean” and stable energy is estimated to be constantly increasing.
This specific collaboration reflects the strategic choice of both Metlen and the Tsakos group to position themselves dynamically in power generation, utilizing their know-how, financial strength and experience. At the same time, it sends the message that major business entities now see green energy not as a complementary activity, but as a basic pillar of growth and profitability.
