He advocated for a balanced mix of energy sources to ensure a smooth transition to a greener future.
Speaking at the launch event for the company’s «Model Center of Excellence», he underscored that the energy transition must be guided by a structured, step-by-step approach that takes existing infrastructure and technical challenges into account rather than being driven by ideological beliefs. He stressed that fossil fuels should not be viewed as adversaries but rather as transitional energy sources until renewable energy is fully integrated into the grid.
Siamisis highlighted that Greece’s rapid expansion of renewable energy has created significant challenges for the electricity grid, which is not yet equipped to manage the increasing production without stability issues. He argued that the solution is not to abruptly phase out conventional fuels but to ensure a gradual transition, combining the growth of renewables with targeted investments in infrastructure modernization.
As part of this approach, HELLENiQ ENERGY remains committed to major investments in renewable energy, aiming to reach 2 GW of production capacity by 2030. Simultaneously, the company continues its operations in the liquid fuels and natural gas sectors, which he described as critical to maintaining energy security.
He pointed out that while Greece is currently constructing 4 GW of new photovoltaic projects, a key concern is how this energy will be absorbed into the grid, given that network limitations are already causing increasing production curtailments.
Beyond its renewable energy strategy, the company is also making strides in energy storage solutions. It recently launched Greece’s first industrial-scale energy storage battery, a project expected to enhance grid stability and improve system flexibility, helping to mitigate the fluctuations inherent in renewable energy production.
Discussing hydrocarbon exploration, Siamisis revealed that an investment decision for exploratory drilling in offshore blocks near Crete is anticipated by 2025.
ExxonMobil, which leads the consortium with a 70% stake, has yet to make a final commitment, but according to his assessment, the process is progressing, and a decision is likely in the near future.
