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Storing energy, a necessary condition for initiating Greece’s energy transformation and for TERNA ENERGY’s equal participation in the clean energy revolution, is now being realised, evoking a well-deserved feeling of pride in all of us.

This feeling of pride is only normal, considering the company’s significant contribution to promoting the concept of large scale pumped storage projects, with the emblematic Amphilochia investment being the flagship for pumped-storage projects in Greece; a critical project that has been declared a Project of Common Interest (PCI) ever since 2013 and a Strategically Significant Investment ever since 2014. The Connecting Europe Facility Programme jointly funded studies; hence the project now possesses all definitive studies and a number of well-rounded geological and geotechnical surveys, and the definite Approval of Environmental Terms. In other words, the project is technically and licensing-wise ready and ripe enough for its construction to be shortly initiated.

How does pumped-storage work?

Quite simply, where water, natural or potential man-made reservoirs and an elevation difference co-exist, water is pumped and stored at an altitude whenever energy production exceeds demand and is left over. When demand increases, the stored water is released to the lower reservoir and generates electricity, offering grid reliability and preventing prices from rising. This process is constantly being repeated over and over again, thus conveying the exact definition of circular economy and a rechargeable natural accumulator.

The Amphilochia pumped-storage system

The “Pumped-storage system in Amfilochia” is the largest grid energy storage investment in Greece. With a total installed capacity of 680 MW (production) and 730 MW (pumping), it includes two independent upper reservoirs, Agios Georgios and Pyrgos, of approximately five and two mil cubic metres, respectively, and PPC’s lake Kastraki as its lower reservoir. The investment exceeds 500 mil euro and yields ~816.00 GWh annually.

It is a project that benefits:

• First and foremost, the local community, citizens of the Alevrada and Petrona communities and those of the wider Amphilochia Municipality. Remarks on the project local people made during the public consultation process were carefully considered. When the investment is launched, they will witness a significant rise in employment in their area. The project’s completion will attach additional value deriving from collateral lake activities, the road network improvement and easier access to the area, benefiting livestock facilities, beekeeping, agriculture, forest stewardship and fire protection.
• The environment, since the project, contributes to sustainability and achieving the 2030 National Energy and Climate Plan goals; it also helps increase biodiversity and local populations or species that benefit from the existence of lakes.

Pumped-storage in Amphilochia, Amari, Crete, Veria and the Peloponnese, all areas our Group is licensed for a total of 1.5 GW installed capacity, features invaluable strategic advantages for Greece. It constitutes a necessary condition for increasing RES penetration in the energy mix and achieving the 2030 National Energy and Climate Plan goals since it provides the interconnected grid with the required flexibility and reliability to safely and efficiently transfer and distribute electricity. At the same time, it helps stabilise prices in the electricity market and rapidly respond to demand fluctuations. Needless to say that it allows Greece to gain its independence from imported fossil fuels and become energy autonomous.

The project is not only a necessary but a sufficient condition, too. The national relief features massive elevation differences, in many instances coupled with ample water volumes, high wind capacity and sunlight.

The large-scale electricity storage achieved with the pumped-storage method, Amphilochia being the most prominent such investment, is vital for Greece’s energy transformation and conversion into a natural accumulator for the entire Southeastern Europe area.

Therefore, not only Greece is rendered a regional energy player, but this is achieved through investments of high domestic added value and a high multiplier impact, significantly increasing employment and creating conditions for explosive growth due to the reduction of energy costs.

It, therefore, comes as no surprise that we, at TERNA ENERGY, feel proud that we have played our part in pursuing a path that leads Greece to solid and sustainable growth; from bringing up the rear in the world energy map to a force to be reckoned with in the clean energy revolution and the fight against climate change.