Stassis: DEH’s New Investment Plan for Western Macedonia

Estimated at €5.6 billion, the new investment plan by DEH for Western Macedonia could potentially double, as highlighted by the company’s Managing Advisor, Mr. George Stassis, during a special event at the Kardia lignite power plant on April 3, 2025. According to Mr. Stassis, “Western Macedonia showcases DEH’s unique significance for the national economy and regional progress. The true scale of this company, now expanding in Southeastern Europe, is best demonstrated here, near the mining sites, extraction areas, and impressive cooling towers.” The aim of the investment plan is to productively utilize existing infrastructure. Consequently, Ptolemaida 5, currently operating at less than half capacity, will be converted into a natural gas unit by the end of 2026. Regarding this, Mr. Stassis noted that “the new Ptolemaida 5 will cease burning lignite by the end of 2026. By the end of 2027, it will transform into an open-cycle natural gas unit with a capacity of 350 MW, creating 300 jobs in the region. It can further be upgraded to a combined cycle unit of 500 MW, with potential expansion reaching up to 1,000 MW.” As per the Managing Advisor, conventional units will remain essential for years, with natural gas being the optimal complement to renewable energy sources. Speaking about DEH’s investment plan for Western Macedonia, Mr. Stassis mentioned that they aim to invest in green energy production and storage, which will also supply Greece’s largest data center, currently the largest in Europe, located in Western Macedonia. These investments will fund numerous projects, from renewable energy and storage to new energy production units, land restorations, energy grids, optical fibers, and primarily the data center. This project, valued at €2.3 billion with a demand of 300 megawatts, will employ 4,000 workers during construction. Additionally, plans include installing modern condensers at the Kardia lignite power plant site to balance the system. Necessary permits have been secured, and the process of finding contractors has begun. The plan also includes decommissioning installations and units that cannot be repurposed, such as massive excavators or cooling towers, representing a €130 million investment targeting the recycling of 95% of materials. Furthermore, 80,000 hectares of former lignite areas will return to public ownership, a €270 million investment creating 500 jobs. To preserve history, DEH intends to establish an energy museum in Western Macedonia. Today, the 550 MW park in the former Ptolemaida mine, employing 2,000 people, is nearing completion, alongside the 940 MW Metova joint venture park in Amyntaio, one of the world’s largest. Additionally, DEH plans a €1.2 billion budget for constructing 2,130 MW of photovoltaic facilities in former mines.