Greece’s Public Power Corp. (PPC), the nation’s greatest power firm, has introduced that its coal-fired thermal energy plant Ptolemaida 5 will likely be transformed to fuel in 2025, three years sooner than deliberate.
The facility, at present underneath building, is ready to be the final of its sort in Greece as all others are scheduled for shutdown by 2023. The transfer will make Greece the tenth European nation to have already exited coal or to plan to take action by 2025.
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Ptolemaida 5 lignite plant was scheduled to return on-line in 2022, nonetheless doubts exist whether or not it would burn lignite in any respect.
“PPC has lastly realised it has wasted billions on Ptolemaida 5, and prompted untold injury to individuals’s well being and the Greek financial system,” mentioned Mahi Sideridou, Managing Director at Europe Beyond Coal. “The incontrovertible fact that the EU’s fourth-largest lignite producer is abandoning coal tells you all the pieces you should know concerning the state of the business. Now PPC wants to show its full consideration to the nation’s monumental renewable power potential. Former coal communities deserve much better than to be tied to extra fossil fuels, like fossil fuel.”
PPC plans to shut all of Greece’s different current lignite vegetation by 2023, a transfer hastened by the speedy improve in carbon dioxide emission certificates. Even if the CO2 prices stay the identical by 2028, PPC can be burdened with greater than EUR 1 billion ($1.2 billion), nearly as a lot as the brand new unit can be price, in line with Balkan Green Energy News.
After PPC did not acquire derogation for the plant, the power firm determined to transform it into an unsustainable 1GW fossil fuel unit in 2025. Technology choices will should be investigated to extend the plant’s sustainability and keep away from stranded belongings sooner or later.
A comparative evaluation of various substitute expertise choices for Ptolemaida 5 carried out by the Green Tank, ClientEarth and enervis reveals that changing the lignite plant to a renewables-based thermal power storage facility would produce cheaper electrical energy than switching to fossil fuel. This possibility would even be absolutely appropriate with the EU’s new 2030 local weather goal, the EU Green Deal and the Sustainable Taxonomy Regulation.
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