POWERGLOBE agreed land purchase in Crete to support its project

POWERGLOBE has agreed to buy land in Crete island of Greece, in order to supports its gas to power development ”POWER4CRETE’ ‘ project. Notice, that POWERGLOBE proposes the installation of a 120MW net capacity powerboat in Atherinolakos port in cooperation with PPC (Public Power Company of Greece)and RAE (Regulatory Energy Authority). The project consist on develop, design, construct, own, operate, maintain gas to power facilities including Self-Installing Powerboats, Self-Installing Re-gasification Platforms, Floating Storage Units, and Autonomous Transfer Systems in Atherinolakos, which belongs to PPC.

The ”Power4Crete” project is the first integrated electricity project across Mediterranean sea, bringing together floating generation and FSRU facility. It is an ideal concept for electricity supply to non-interconnected places (islands) with the main land electricity grid, Dr. Youssef Hegazy said.

POWERGLOBE offices plan for Crete (QGN-PG Design), as its current offices and facilities in Qatar, Singapore, UAE and Jordan

POWERGLOBE has already established a team of six Greek energy experts in Heraklion, supported direct from Doha office. In addition, the company holds a office of market review and analysis in Athens Tower.

The purchase deal reached close to 3.36million Euros, including spaces for offices, industrial facilities, spare parts storage, restaurant, training and conference areas. The total project expected to reach above 12m Euros and it will be completed by November 2020. Today, POWERGLOBE holds either offices or industrial facilities in Qatar, Greece, Singapore, UAE, and Jordan.

Sources: CN, QGN, FT, TTF, QT, PG NEWS, NTT.