IPP and EPC Faria Renewables has inaugurated its 49.9MW/134.16MWh Galani BESS project in Elassona, Greece.
The company cut the ribbon on the project last week (13 October), describing it as one of Greece’s first battery energy storage system (BESS) projects.
The company is an investor and independent power producer (IPP) but also does engineering, procurement and construction (EPC), and delivered the project using those internal capabilities. It wants to offer this for other companies’ projects now too.
Chinese technology firm Huawei provided the BESS units for the project, which is connected to a 150/20 kV high-voltage substation. Huawei is a major player in grid-scale BESS globally.
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Attica Bank meanwhile provided project financing for the Galani project, with the total investment for the project pegged at €28 million (US$31 million).
It also benefits from funding under the EU’s Recovery and Resilience Facility – NextGenerationEU funding package, administered in Greece by the Regulatory Authority for Waste, Energy and Water (RAAEY).
It won the funding for the project in the second round auction for funding held in 2024, when the average weighted winning bid across projects was €46,680/MW/year.
Just last week, another project that received funding came online: metals and energy group Metlen and conglomerate Karatzis Group’s 330MW/790MWh Thessaly project, the largest in the country. That groundbreaking ceremony was attended by the country’s Prime Minister, Kyriakos Mitsotakis, who said Greece needed to invest in BESS alongside renewables and some fossil fuel capacity.
