A new reality is taking shape in which energy security and resilience are becoming more important, Evangelos Mytilineos said as he inaugurated Greece’s largest standalone energy storage facility, with a capacity of 330 MW, the result of a partnership between Metlen and the Karatzis group.
The more energy a country produces from its own resources, the less exposed it is to international price fluctuations and geopolitical developments, he said.
Renewable energy production does not always match demand. The greater its share in the system, the more valuable energy storage becomes. Alongside grids and interconnections, it helps create the conditions for a more resilient system.
Europe is simultaneously pursuing an energy transition, reindustrialisation, stronger strategic autonomy and the creation of new productive capacity, the businessman said. These require unprecedented investment, he noted.
“But these will not happen simply because targets have been set. Businesses make investment decisions based on the economic conditions they will face after investing. One of the most important is energy. If Europe wants to strengthen its industrial base, it must offer access to competitive, predictable energy. Investment is needed in storage and interconnections. Greater flexibility is needed.”
As he explained, energy costs cannot be considered separately from industrial production.
Metlen has chosen to invest in the transition. We must view it as part of a broader strategy, he continued. He added that industry can create jobs and boost exports.
The ability to store energy and return it to the system when needed is crucial, Antonis Karatzis said. We believe in long-term investments that create value for the economy, he noted.
“We are pleased to have Metlen by our side, a Greek group with a proven ability to deliver complex energy projects,” he added.