ECONOMY

The heavy industry in Greece faces significant challenges when it comes to meeting its energy needs. One of the primary hurdles is the reliance on expensive black energy sources, such as coal and oil, which drive up production costs. The lack of widespread renewable energy infrastructure further exacerbates the problem. Greece currently has limited capacity in terms of renewable energy generation, which means heavy industries are left with limited options for affordable and sustainable power.

This unsustainable reliance on costly energy sources not only hampers the competitiveness of the heavy industry sector but also contributes to environmental degradation and carbon emissions. Urgent attention and investments in developing renewable energy infrastructure are crucial to addressing the energy needs of the heavy industry in Greece and mitigating the sustainability problem caused by high energy costs.

While the traditional energy suppliers are shifting their electricity production to renewable energy sources, as this shift will take at least a decade, most businesses are considering nowadays to invest in their own photovoltaic production systems, mainly in the rooftops and open spaces of their facilities, in a way to produce directly some of their energy needs.

But these businesses are not affiliated with the energy markets, so the owners feel stressed to invest in businesses they do not totally understand. This fact is creating a goal to be fulfilled, which is to provide to such business owners a direct energy saving in their electricity bills, while in the same time to invest in their own photovoltaic energy saving systems, without spending any CAPEX amounts.

In the heavy industry sector, there are many players that are not directly affiliated with the energy markets but still find themselves in urgent need to reduce their electricity bills. These companies, ranging from manufacturing to construction, rely heavily on electricity for their operations and often face significant energy costs. The high electricity bills can erode their profit margins and hinder their overall competitiveness. To address this challenge, these industry players need to explore various strategies and solutions to increase energy efficiency, optimize energy consumption, and integrate renewable energy sources wherever possible.

These types of businesses are the target audience of Survey Digital Photovoltaics operating as an ESCO (Energy Service Company). With this newly introduced service for the Greek market, Survey Digital Photovoltaics is implementing energy management systems, adopting energy-saving technologies, and engaging in energy audits that can all help identify areas for improvement and cost savings. Additionally, exploring energy procurement options, such as entering into power purchase agreements or exploring group purchasing arrangements, offer opportunities for reduced electricity costs. By taking such proactive steps to minimize their energy expenses, heavy industry players can enhance their financial sustainability while also contributing to a more sustainable energy future.

The duration of the cooperation by the ESCO, is long term, typically between 12-18 years. During that period, the photovoltaic system is owned by the ESCO, while the industry (offtaker) is purchasing electricity through a Power Purchase Agreement (PPA). The photovoltaic system’s ownership is passed to the industry after the expiration of the PPA free of charge. And it is important to mention that the system has a lifetime of 25+ years of operation, meaning that the system has still many years to produce electricity for the offtaker.