With a capacity of 330 megawatts and 790 megawatt-hours, the facility will be able to store enough electricity to power around 250,000 homes for three to four hours.
Unlike installations linked to a specific renewable energy park, the new system will operate independently, connecting directly to the national power grid. In practice, it will function as a kind of “digital power plant,” helping to stabilize the grid at times when renewable energy production fluctuates.
The project will use state-of-the-art lithium-ion batteries similar to those found in electric vehicles but on a vastly larger scale. These batteries are designed to be safe, long-lasting, and highly efficient, with a lifespan of more than ten years and an energy efficiency rate of over 90 percent — meaning that almost all the stored energy can be reused.
Its operation will be managed by an artificial intelligence system that will decide the most efficient moments to charge or discharge the batteries, based on fluctuations in electricity demand and market prices.
With an investment of €170 million and no reliance on state subsidies or tax incentives, the project is expected to be completed by 2026. Once operational, it is anticipated to become a model for green energy storage not only in Greece but also across Europe. Under the joint venture, Metlen will hold a 49 percent share, while the Karatzis Group will own 51 percent.
