“MORE remains committed to achieving its ambitious target of 2 GW of installed capacity by 2030. We are leading in the future of Energy through a portfolio of projects that is growing exponentially. We are working strategically for a sustainable and better tomorrow with resilient energy systems, with all parties working together for more energy and more alternatives” mentioned the General Manager of MORE (Motor Oil Renewable Energy) Mr. Victor Papaconstantinou from Dubai during this year’s COP.
The growth potential of the energy sector, the projects being implemented for the green transformation, as well as the global community’s vote of confidence in Greece’s prospects, were highlighted by the participants in the interesting panel discussion “Energy diversification as a fundamental contribution to sustainable development” organized by MORE, in the framework of COP28.
Aiming for a leading position and further penetration of RES in the energy mix Mr. Victor Papaconstantinou, General Manager of MORE pointed out that despite the external changes and continuous crises, investments for the energy transition should be accelerated as they are vital to ensure our country’s energy autonomy. He mentioned that due to Greece’s highly strategic geographical position, the country has great export potential and strong growth prospects in the renewable energy sector. At the same time, however, he also focused on the need to create a virtuous circle in which all sectors in which Greece has competitive advantages will be developed. This will accelerate sustainable growth and the circular economy through exports of the country’s energy reserves.
Regarding the dynamic development of MORE, Mr. Papaconstantinou pointed out that MORE will play a leading role in the new energy environment. Already, it has a modern portfolio of 837 MW of installed capacity, 94% of which are wind power-based generation units. He even stressed that renewable electricity, is the cornerstone for the green transition as it is being harnessed to produce alternative fuels such as hydrogen and methane.
Referring to the ambitious 2GW plan, he reminded that it is an achievable goal, and MORE is working strategically and intensively towards it, leveraging alliances and talented human capital. An important competitive advantage is the boost given by Motor Oil Group, an energy champion in SE Europe leading the energy transition, through the largest investment plan in the Southeastern Mediterranean, amounting to €4 billion.
In turn, Mr. Konstantinos Chatzifotis, European Affairs Manager of Motor Oil Group, participating in the panel discussion, focused on the importance of alternative fuels on the road to sustainable development. In particular, he focused on the key role that hydrogen will play and consequently the flagship projects that the Motor Oil Group is already implementing in this direction. Motor Oil Group, as Mr. Chatzifotis noted, has developed a holistic plan, under the Blue Med program, to develop a hydrogen value chain in Greece. The Blue Med development includes a number of innovative projects, such as IRIS (CO2 capture, use and storage system), which is in the process of signing a grant contract from the Innovation Fund, as well as EPHYRA (electrolysis system for the production of renewable hydrogen), TRIERES (hydrogen valley), and REA/REAH2 (hydrogen filling stations), which are already being implemented with co-funding from the Clean Hydrogen Partnership/Horizon Europe and CEF-Transport, respectively.
Finally, Mr. Stefanos Agiasoglou, CEO of O.SY S.A., participated in the same panel and stressed the important role of sustainable mobility in achieving the ambitious climate goals. At the same time, he also referred to the use of hydrogen as an alternative fuel that can have immediate and practical benefits and implementation as OSY has already committed to the operation of 3 hydrogen buses through its participation in the Trieres project. However, an important factor for the implementation of all the ambitious goals and plans of companies is a specially designed institutional framework.
From her part, the Deputy Minister of Environment and Energy, Mrs. Alexandra Sdoukou, stressed the will of the state to proceed with the energy transition within a structured framework with consistent and rapid steps. Clearly, an important role should be played by the prudent use of the available resources and the huge opportunity with which our country is faced to become a strategic energy hub.
