The construction and operation of the first private conventional power station Power Energy Cyprus (PEC), which is expected to be put into operation in early 2023, is normal and within the set schedules.
According to a PEC announcement, the cost of the investment, which will be covered by equity and lending by Cypriot banks, will amount to 200m euros. He states that 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.
He notes that in the event that there is a long delay in the arrival of natural gas, wanting to meet the schedules set, the PEC will proceed normally with the production of electricity using diesel.
The company has already ordered 3 SGT-800 gas turbines from Siemens, which will be installed at the station.
According to PEC CEO 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, the 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 said that all earthworks have been completed on schedule, while fire protection tanks, deionized and drinking water storage tank, sea pumping station, management building and warehouses have been constructed. .
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.