€600 Million Investment in Larissa for Natural Gas Power Plant

A shareholders’ agreement was signed today (May 21, 2025) for the construction of a natural gas power plant with a budget of €600 million between companies Clavenia, EUSIF Larissa, and Volton. The joint venture will be part of the Larisa Thermal Power Plant located in the industrial area of Larissa. According to announcements, the company is developing a 792 MW electricity production unit powered by natural gas combustion. The project has received all necessary permits and is ready to proceed with construction following the Final Investment Decision (FID) by the shareholders. The new unit is expected to become the most efficient combined cycle gas turbine (CCGT) facility in Greece, achieving a net thermal efficiency of 62.6% using Mitsubishi Heavy Industries’ advanced M701JAC technology. DEPA Trade will handle energy management and natural gas supply for the plant’s operations. Key stakeholders emphasized the strategic importance of this investment for Greece’s energy security, job creation, and competitive pricing for consumers.