Service Type: Project

MORE is developing a hybrid power plant in Western Lesvos, combining wind energy and a pumped storage system, harnessing the available hydraulic energy of the existing Eressos reservoir.

The company’s Hybrid power plant, which is currently undergoing construction, combines an 18 MW wind power plant with a 15 MW hydroelectric power plant and a 16.8 MW pumping station, to provide clean electricity throughout the day, thus replacing a significant proportion of the island’s conventional power generation.

MORE maintains the operation of a 5 MW installed capacity SHPP in North Pindos, on the eastern foothills of Mount Vasilitsa in Grevena. The project has been continuously operating since 2013, utilizing the supplies of the stream Smixiotiko, a tributary of the river Venetiko, in a natural waterfall of 150 m.

In recent years, MORE has assumed a leading role in the development and production of clean energy from renewable sources. MORE owns 75% of Unagi S.A., which is jointly developing a portfolio of 16 photovoltaic plants with a licensed capacity of 1.8 GW in Macedonia and Central Greece, through 3 subsidiaries (SPVs). Unagi S.A. holds 51% of the share capital of each SPV (Pivot Solar S.A., Teichio S.A., Baliaga S.A.) & PPC Renewables S.A. holds the remaining 49%. Additionally, MORE operates solar power projects with a total installed capacity of 48.6 MW.

In June 2024, MORE announced the acquisition of two new photovoltaic plants in Romania in collaboration with Alive Renewable Holding Limited, investment arm of Premier Energy Group. The photovoltaic plants with a total installed capacity of 86 MW will be connected to battery energy storage systems (BESS) with a capacity of 18 MW. Construction of the projects is expected to be completed in the second half of 2025.

MORE’s strategic plan includes the development of modern and functional electricity storage systems. These storage systems are individual electrochemical power storage stations (batteries), that can release electricity into the system when needed.

The company, through its subsidiaries, has secured nine licenses for electricity storage with accumulators, with a total capacity of 514 MW. The projects have successfully undergone the environmental permitting process and will be constructed in the regions of Thrace, Western Macedonia, Central Greece and the Peloponnese.

MORE has a portfolio of new wind power projects under development, with a total capacity of more than 1 GW, in different stages of licensing maturity, moving closer to achieving its target of 2 GW till 2030. Currently, the company has one wind farm under construction with a total installed capacity of 22.50 MW. Additionally, the company has wind power projects with a total installed capacity of 784.40 MW.

MORE aims to become a leader in the emerging market of Offshore Wind Parks (OWPs) in Greece, investing in both floating and bottom-fixed projects. The company seeks to play an active role in the technical and commercial development of the projects, aiming to acquire expertise and develop the necessary skills for the successful development, construction, and operation of offshore wind projects in Greece and abroad.