Ilaktor, a member of Ellaktor Group was selected as PPC Renewabels’ strategic partner in the development of geothermal projects, said Renewable energy arm of Greek state-controlled Public Power Corporation.
Ilaktor emerged as the winner of a long overdue tender, behind Terna Energy. The aim of the tender was to find a strategic partner for the utilization of geothermal fields for the production of electricity. The fields in question are: Lesvos, Milos-Kimolos-Polyaigos island complex, Nisyros and Methana.
Ilektor will be given a majority stake in a special purpose vehicle established by PPC Renewables for this project. The PPC subsidiary has obtained exploration and exploitation license for these fields, which was recently extended. The plan is to develop 8 W geothermal facility at Levsos field and 5 MW facilities at the other three.
PPC Renewables plant to start explorations at the Milos-Kimolos-Polyaigos complex by the end of the year so it would be ready to operate in 2025. Explorations at the other three fields will start at a later date.
