Greece’s Public Power Corporation (PPC) has signed its last two-year supply agreement with Aluminum of Greece (AoG), the country’s biggest electricity consumer, which intends to switch entirely to green energy from 2030.
“This will be the last contract for the two companies, after 60 years of uninterrupted cooperation,” according to a press release from Greek industrial conglomerate Mytilineos, which owns AoG.
As part of its sustainable development strategy, Mytilineos is committed to reducing emissions by 30% in all its activities by 2030 and achieving climate-neutrality by 2050, the company said, adding that AoG will cover all its electricity needs from renewable energy sources as of 2030.
As of 2023, AoG will cover energy needs from Mytilineos’ new gas-fired power plant and renewable facilities
As of 2023, AoG will cease to depend on PPC for its energy supply, thanks to the option to get electricity from a new natural gas-fired unit currently under construction near the aluminum plant, which will be able to cover AoG’s needs three times over, as well as from renewable energy facilities the company is developing, according to a report by ekthimerini.com.
AoG is expected to bolster Mytilineos’ energy arm in the new market for PPAs
Evangelos Mytilineos, the owner of the Greek conglomerate, has said he expects that AoG will particularly bolster the role of the Mytilineos group’s energy arm in the new market of power purchase agreements (PPAs) opening up.
After 2023, a new era begins for AoG, a green and sustainable era, in line with the Greece’s national climate goals and the European Green Deal, according to him.
Mytilineos aspires to set a green example, especially in its metallurgy business, by cutting absolute CO2 emissions by 65% and relative CO2 emissions (per ton of aluminum produced), by 75%, according to the press release.