Greece Inaugurates Eastern Europe's Largest Standalone BESS in Larissa
METLEN and Karatzis Group have officially inaugurated Greece's largest standalone battery energy storage system (BESS) in Larissa, Thessaly. With a power capacity of 330 MW and an energy storage capacity of 790 MWh, the facility stands as the largest of its kind in Eastern Europe and ranks among the most significant in the European Union.
Joint Investment and EU Support
The landmark project was developed through a strategic joint venture, with METLEN holding a 49% stake and Karatzis Group retaining 51%. The estimated investment for the facility is approximately €170 million. Crucially, the development is supported by a loan under the EU’s Recovery and Resilience Facility, a key pillar of the NextGenerationEU initiative, highlighting the bloc's commitment to accelerating clean energy infrastructure.
National Energy and Price Goals
Greek Prime Minister Kyriakos Mitsotakis emphasized the critical role of BESS in balancing intermittent solar generation and reducing the nation's dependence on natural gas. These strategic investments are directly linked to a national goal of reducing electricity prices by at least 30% by 2030. To further support this transition, Greece is leveraging the Recovery Fund and directing an additional €200 million towards similar storage measures. This development aligns with broader Mediterranean BESS investments, which expanded by 29% year-over-year, reinforcing the EU's energy sovereignty.
The inauguration marks a pivotal moment for the Greek energy sector, demonstrating how targeted financial support and private-public partnerships can accelerate the deployment of critical grid infrastructure. As the EU continues to phase out fossil fuels, large-scale standalone storage systems like the Larissa facility will be indispensable for managing renewable intermittency and ensuring a stable, affordable power supply for all consumers.
These investments are directly linked to a national goal of reducing electricity prices by at least 30% by 2030.
Source: Energy and Climate Index
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