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PEC is normally investing € 200 million.

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PEC is normally investing € 200 million.

Normally and within the set schedules are the works for the construction and operation of the first private power station Power Energy Cyprus (PEC).

The company has already ordered 3 SGT-800 gas turbines from the well-known company Siemens, which will be installed at the station.

According to the CEO of PEC Mr. George Chrysochos, this project is one of the largest in the field of infrastructure in Cyprus and is expected to contribute significantly to the further development of the place. The station will operate with modern combined cycle technology with 3 gas turbines that will consume natural gas.

At the moment, he added, contracts have been signed for the start of construction and installation of the machines that will have a productivity of 60%, something that is expected to significantly reduce the energy costs of Cyprus. Based on current data and consumption needs, this station is expected to cover one third of the electricity demand in Cyprus.

PEC has also signed and accepted the Network Administrator's preliminary connection terms for connecting to the Network.

Regarding the progress of the project so far, Mr. Chrysochos emphasizes that all earthworks have been completed on the basis of schedules, while:

The fire protection tanks, The storage tank for deionized and drinking water The pumping station at sea The management building The warehouses

The design for the installation of the submarine pipe that will transport water from one kilometer through the sea to the station has also been completed.

The plant is expected to be operational in early 2023 and the cost of the investment to be covered by equity and lending by Cypriot banks will amount to 200m euros.

The company seeks to use natural gas for the production of electricity, with DEFA needing 24 months from the day of commencement of works for the arrival of natural gas.

With the order of DEFA to start work at the end of last year, the production of electricity for commercial purposes by the PEC is placed in time, beginning of 2023, while in case of a long delay in the arrival of gas, wanting to meet the set schedule , PEC will proceed normally with the production of electricity using diesel.

Source: www.philenews.com

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