The start of construction of the 840MW Alexandroupolis power plant was officially announced in January 2023. Credit: Copelouzos Group.
The combined-cycle power plant is expected to receive gas supply from Gastrade’s FSRU, which will be located offshore Alexandroupolis. Credit: DEPA.
Damco Energy signed an agreement with AD ESM for cooperation on the power project in March 2021. Credit: Copelouzos Group.

The Alexandroupolis combined-cycle power plant (CCPP) is being built with an installed capacity of 840MW in the industrial area of Alexandroupolis, Greece.

The project was earlier licensed for 662MW but was granted approval by the Regulatory Authority for Energy to increase the capacity to 840MW in June 2021.

A ceremony was held to mark the start of the project’s construction in January 2023. The power plant is expected to begin operations by the end of 2025, with an annual power production of 5TWh.

The new plant is expected to replace the power generated by three lignite plants that are being decommissioned in Greece. In addition to ensuring a reliable and cost-effective power supply, the project is in line with the targets outlined in the European Green Deal programme and is expected to contribute towards the shift to low-emission power generation.

The project is expected to create about 600 jobs during the construction phase, as well as a further 90 permanent roles over its lifetime.


The project is being developed in Alexandroupolis, in the prefecture of Evros, by Ilektroparagogi Alexandroupolis, a joint venture (JV) comprising PPC, an electrical power supplier based in Greece, DEPA Commercial and Damco Energy, a subsidiary of the Copelouzos Group.

Ilektroparagogi Alexandroupolis is a special-purpose company established for the construction and operation of the power plant. PPC acquired a 51% stake in the company in December 2022. DEPA Commercial and Damco Energy hold stakes of 29% and 20%, respectively.

Alexandroupolis power plant make-up

The CCPP will incorporate a single shaft configuration, comprising a gas turbine, steam turbine and generator.

The gas-fired plant will be able to run on mixed fuel and have provision for burning hydrogen as a fuel.

The plant is expected to receive gas supply from Gastrade’s floating storage and regasification unit (FSRU), which is under construction offshore Alexandroupolis and will have a capacity of 5.5 billion m³ a year.

Grid connection

The plant is planned to be connected to the National Power transmission system at the Nea Santa ultrahigh-voltage (UHV) substation, which is a terminal point of the new 400kV Maritza East-Nea Santa interconnection line.

The power produced is planned to be supplied to the domestic market and potentially to nearby Balkan states, such as Bulgaria, North Macedonia and Serbia.

Power purchase agreement

Damco Energy and AD Elektrani na Severna Makedonija (ESM), a Northern Macedonian state-owned energy company, signed an agreement to cooperate on the development of the power plant in March 2021.

AD ESM agreed to acquire 25% share capital of the special-purpose vehicle (SPV) responsible for the construction and operation of the power plant.

AD ESM will also sign a long-term power purchase agreement for the offtake of power proportionate to its share of participation in the SPV, which will cater to the increasing energy demand of North Macedonia.

Contractors involved

Damco Energy contracted General Electric for the supply and long-term maintenance of the key equipment for the Alexandroupolis CCPP in October 2021.