DEPA Commercial: A modern vertically integrated energy group

The energy transition is no longer a theoretical discussion, but represents an urgent need of our times. DEPA Commercial responds to this challenge with a comprehensive plan of investments and partnerships that extend from the natural gas sector to renewable energy sources and alternative fuels.
The company’s recent out-of-court settlement with Gazprom constitutes strong confirmation of the strategic resilience and diversification that the Group steadily pursues. The resolution of a difficult pending issue with positive economic benefits for DEPA and the market demonstrated in practice how its institutional role, negotiating power, and diversified supply portfolio are inextricably linked to the country’s energy security.
In the same direction, the company’s €600 million investment for the construction of a new natural gas combined cycle unit in Larissa will contribute to the stability of the energy system, not only of Greece, but also of the broader region. With a capacity of 792 MW and net thermal efficiency of 62.6%, the project has been designed to substantially upgrade the country’s energy adequacy and autonomy.
Its significance is multidimensional: it enhances energy security by ensuring cleaner and more efficient electricity generation, contributes to local development, and creates conditions for reducing energy costs, improving competitiveness and contributing to the stabilization of electricity prices.
In the natural gas power generation sector, the new investment complements DEPA Commercial’s thermal portfolio, which by 2029 is expected to exceed 1GW, together with the company’s participation in the ultra-modern thermal units of Alexandroupoli (29%, 840 MW) and Albania (35%, 174 MW).
These units decisively strengthen the energy fortification of the country and the broader region against the backdrop of energy transition while simultaneously enhancing regional interconnectivity, creating new supply channels that serve all of Southeast Europe.
Meanwhile, with green energy as an unwavering pillar of its strategy, DEPA Commercial is implementing a dynamic portfolio of 800 MW green projects, with the immediate goal of exceeding 1 GW. In Western Macedonia, one of the country’s largest photovoltaic projects is being developed, with a total capacity of 400 MW and a budget exceeding €230 million, aimed at increasing green energy production and supporting the local economy.
At the same time, DEPA Commercial pioneers the development of alternative fuels, such as biomethane and green hydrogen, with the goal of diversifying the country’s energy mix. In collaboration with Farma Chitas, it implemented Greece’s first compressed biomethane production project, with the produced bio-CNG – a fuel with zero carbon footprint – supplying the company’s nationwide network of gas stations, FISIKON, offering more economical and cleaner transportation.
Additionally, the company is implementing the GREENH2ORN program – a comprehensive development plan for green hydrogen production and refueling infrastructure in the country, with Kozani as the first station. The project marks the beginning of a new chapter in the zero-emission energy chain.
At the forefront of the strategy for extroversion, supply security, and energy source diversification are landmark projects such as the Alexandroupoli Floating Storage and Regasification Unit (FSRU) and the Greece-Bulgaria Interconnector (IGB), in which DEPA plays a leading role.
The FSRU operates as an energy gateway for importing liquefied natural gas for Greece and SE Europe, reducing dependence on traditional suppliers and ensuring flexibility in supply sources. The IGB, with the capacity to transport up to 3 billion cubic meters of natural gas annually, strengthens regional interconnectivity and allows for physical reverse flow, making Greece a hub of energy flows.
DEPA Commercial, with continuous investment in technology, regional cooperation, and source diversification, does not limit itself to following developments but shapes them, positioning Greece at the center of European energy planning.