Greece inaugurated the largest standalone energy storage facility in Eastern Europe and one of the largest in the European Union on Thursday in Nees Karyes, Larissa, with Prime Minister Kyriakos Mitsotakis and senior executives from Metlen Energy & Metals and the Karatzis Group attending the ceremony.
The project brings together the two Greek business groups to strengthen renewable energy integration, improve electricity grid stability and support Greece’s energy security.
Attendees included METLEN Executive Chairman Evangelos Mytilineos, Karatzis Group Chairman and CEO Antonis Karatzis, members of parliament and local government representatives.
Speaking at the inauguration, Mytilineos described the facility as a major investment in the future of Greece’s energy system.
“I am particularly proud that today, here in Thessaly, we are inaugurating the largest standalone energy storage facility in Eastern Europe and one of the largest across the European Union,” Mytilineos said.
He explained that energy storage, alongside electricity networks and interconnections, would help Greece make more effective use of the clean energy it produces while providing businesses and society with a more reliable and predictable energy supply.
Mytilineos stressed that Greece could not plan its energy system without considering industrial needs, pursue reindustrialisation without addressing energy costs, or strengthen energy security without investing in infrastructure that allows the country to use its own energy resources.
He described the new facility as a practical example of this approach, explaining that large-scale storage integrated with expanding renewable energy capacity, networks and interconnections could make the energy system more flexible and resilient.
Mytilineos added that further investment would help Greece capitalise on its energy advantages by connecting clean energy with storage and electricity networks, supporting industry and creating new productive activities.
“METLEN will continue to invest in this direction, in Greece and internationally,” he said, thanking the Karatzis Group and Antonis Karatzis personally, as well as the METLEN employees who contributed to delivering the project.
Karatzis Group highlights long-term investment strategy
Karatzis said the inauguration marked an important milestone for his group and Greece’s energy future.
He said the project reflected the group’s strategic decision to invest in long-term infrastructure that delivers substantial value to the Greek economy.
“Together with METLEN, we are demonstrating that two leading Greek companies can combine their strengths, expertise and investment commitment to deliver projects to international standards,” Karatzis said.
He added that the partnership would help Greece make better use of renewable energy sources, stabilise its electricity system and strengthen national energy security.
Karatzis described the facility as the beginning of a new era in which the group intended to play an active and meaningful role.
He also stressed that renewable energy generation alone could not deliver a fully effective energy transition.
“Without storage, there can be no truly effective energy transition,” he said.
The ability to store electricity when supply exceeds demand and return it to the grid when needed, Karatzis explained, was crucial to maintaining grid stability, maximising renewable energy use and strengthening Greece’s energy security.
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