A groundbreaking ceremony held in Domokos has marked the start of construction of one of Greece’s largest hybrid renewable energy generation projects, jointly developed by METLEN and Tsakos Group.

The event marked the transition of the two companies’ strategic partnership into the substantive phase of construction, and was attended by representatives of the Hellenic Parliament, the Governor of Central Greece, the Mayor of Domokos, representatives of local authorities, and representatives of institutional and business organizations.

Project Scale and Ownership Structure

The project comprises a 251.9 MW solar photovoltaic power plant combined with an energy storage system with an expected capacity of 375 MWh. It is being developed through a jointly owned special purpose vehicle in which Tsakos Group holds a 60% stake, and METLEN holds 40%. METLEN has undertaken the construction of the project, as well as the energy and commercial management of the facility.

The investment is being implemented with loan support from the European Union’s Recovery and Resilience Facility, NextGenerationEU.

According to the companies, the project represents an investment of particular significance for Central Greece and the country’s energy transition, combining clean energy generation with large-scale energy storage.

It is also expected to create opportunities for growth and broader benefits for the region, with an emphasis on continuous cooperation with local authorities and communities.

Tsakos Group: From Transporting Energy to Generating It

Captain Panagiotis Tsakos, founder of Tsakos Group, described the groundbreaking as a special day, saying it marks the beginning of an important project and the group's contribution, through its own efforts, to shaping a more sustainable energy future for Greece.

He said the project is not only about generating electricity but also about harnessing the natural potential of the Greek land, technological progress, energy security, and responsibility towards future generations.

Nikos Tsakos, CEO of TEN Ltd., drew a direct line between the Group’s shipping heritage and its move into power generation. “In shipping, we learned how to transport energy from one end of the world to the other,” he said, noting that the Group’s vessels have transported energy resources that drive the economy, power the industry, and support the daily lives of millions of people for decades.

With the Domokos project, he said, the group is taking another step forward: “From transporting energy, we are now also moving into generating it. From sea to land.” He described the shift as one from ships transporting energy around the world to projects that harness the Greek sun and store its energy so that it is available when society needs it.

Nikos Tsakos also framed the partnership with METLEN as an example of what can be achieved when internationally active Greek businesses join forces, combining shared values, expertise, an outward-looking mindset, and a commitment to contributing to the country.

METLEN: From Planning to Implementation

Evangelos Mytilineos, Executive Chairman of METLEN, said the ceremony marks the transition from planning to implementation. Together with Tsakos Group, he said, METLEN is moving forward with an investment of particular significance for the country’s new energy system, leveraging the company’s expertise and international experience in the construction and management of complex energy projects.

He added that METLEN wants the project to develop in close connection with the region and to create meaningful value for the local community and the Greek economy.

The start of construction represents another milestone in the cooperation between the two groups and, according to the companies, paves the way for the development of next-generation energy infrastructure that will contribute to security of supply, greater flexibility of the electricity system, and the further utilization of Greece’s renewable energy potential.

METLEN stated that, building on its proven international experience in delivering complex hybrid projects that combine solar power generation and energy storage, it is strengthening its leading role in the country’s energy transition through strategic partnerships such as its collaboration with Tsakos Group and shaping what it describes as the utility of the future.

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