Joint venture with Motor Oil Hellas to develop two CSP plants on Crete and Rhodes, each approximately 50MW in size
Nur Energie in Greece
In 2009 Nur Energie established a subsidiary, NUR-MOH HELIOTHERMAL S.A. (NUR-MOH), which is shared with Motor Oil Hellas. Motor Oil Hellas is a leader in the petroleum refining industry providing the region that it serves with a reliable and affordable supply of energy. MOH is listed in Athens Stock Exchange and plays a prominent role in the Greek economy. NUR-MOH works with leading CSP technology providers, to develop one of the most advanced CSP tower systems in the world.
The first project being developed by Nur Energie is a 50MW CSP plant located on the island of Crete. The area is suitable for CSP as southern Crete is an autonomous island, experiences high levels of solar radiation and Greece offers a feed-in-tariff regime for CSP with 25years PPA. The site on Crete has been chosen for its minimal environmental impact, at one of the best areas in Europe in terms of solar radiation.
The selected CSP technology is ideal for this island given the power demand profile both on a daily and seasonal basis. Tracking mirrors (heliostats) concentrate the sun energy to generate heat which is converted into electrical energy to be distributed on to the islands electrical grid.
The project is fully licensed and ready for construction. In addition, the project has been awarded a grant from the European Commission and the European Investment Bank through the NER300 subsidy program for innovative renewable energy technologies.