According to Athens-based PPC Renewable’s chief executive Manolis Panagiotakis, the development of geothermal technology is expected to play a pivotal role, while also pointing out the major prospects in this field for the Cyclades islands and, possibly, further south.
The energy supply model in the region promises to be reshaped, Panagiotakis noted, adding that geothermal technology, combined with other measures, could end the region’s high-cost dependence on fuel, diesel and mazut for electricity generation.
The PPC boss pointed out the utility’s unsuccessful investment of 62 million euros on geothermal technology research in previous decades, while adding that, despite the setback, he remains optimistic on the domain’s prospects for the Cyclades and possibly beyond.
Major foreign corporations, including Enel, Ormat and Mitsubishi, have expressed an interest in helping develop the country’s geothermal energy potential.