BUSINESS: 422 PRACTICES
Founded in 1998, HELLENiQ ENERGY (https://www.helleniqenergy.gr/en) is one of the leading energy groups in South East Europe, with presence in 6 countries and activities spanning across the energy value chain, namely: oil refining and fuel marketing, exploration and production, renewable energy sources, petrochemicals, power and gas.
HELLENiQ ENERGY’s Green Hub North initiative aims to significantly accelerate the energy transition and decarbonization of the Thessaloniki Industrial Complex, through the development of an innovative, large-scale energy system that combines electricity generation from renewable energy sources with energy storage. The project introduces a pioneering “behind-the-meter” solution, with photovoltaic stations and a storage system directly connected to the industrial facility, with the aim of drastically reducing indirect Scope 2 CO₂ emissions.
The Initiative’s strategic goal is to reduce Scope 2 CO₂ emissions by up to 70%, which corresponds to more than 50,000 tCO₂ from the Thessaloniki Industrial Complex, to strengthen the energy autonomy and resilience of the largest industrial facility in Northern Greece, and to contribute to national and European goals for climate neutrality and the reduction of greenhouse gas emissions.
At the same time, Green Hub North lays the groundwork for the future development of green hydrogen and green ammonia production, strengthening Thessaloniki’s role as a hub for clean fuels and advanced energy applications for industry, shipping, and the agri-food sector.
The Initiative is currently in the development stage, with a multi-phase plan.
The first phase calls for construction to begin in 2027 and commercial operation to start in 2028, while subsequent phases for green hydrogen and green ammonia are planned for after 2028, depending on the development of the relevant markets
HELLENiQ ENERGY is developing Green Hub North, a flagship, multi-phase energy transformation initiative in the Thessaloniki Industrial Complex, with the goal of reducing Scope 2 CO₂ emissions, enhance energy self-sufficiency, and create the conditions for the production and utilization of clean fuels. The project is an innovative “behind-the-meter” solution, as the renewable electricity generated will be supplied directly to the industrial facility via high-voltage lines, without feeding the generated energy into the transmission grid.
The first phase of the project, Phase I – RES for TIC (Thessaloniki Industrial Complex), involves the development of a photovoltaic power plant with a capacity of approximately 200 MWp and a 100 MW / 4-hour energy storage system (BESS), with a direct high-voltage connection from the Kilkis region to the Thessaloniki Industrial Complex. This phase is estimated to achieve a reduction of up to 70% in Scope 2 CO₂ emissions, contributing significantly to the decarbonization of one of the country’s most important industrial facilities.
HELLENiQ ENERGY is developing Green Hub North, a flagship, multi-phase energy transformation initiative in the Thessaloniki Industrial Complex, with the goal of reducing Scope 2 CO₂ emissions, enhance energy self-sufficiency, and create the conditions for the production and utilization of clean fuels. The project is an innovative “behind-the-meter” solution, as the renewable electricity generated will be supplied directly to the industrial facility via high-voltage lines, without feeding the generated energy into the transmission grid.
The first phase of the project, Phase I – RES for TIC (Thessaloniki Industrial Complex), involves the development of a photovoltaic power plant with a capacity of approximately 200 MWp and a 100 MW / 4 hours, with a direct high-voltage connection from the Kilkis region to the Thessaloniki Industrial Complex. This phase is estimated to achieve a reduction of up to 70% in Scope 2 CO₂ emissions, contributing significantly to the decarbonization of one of the country’s most important industrial facilities.
The initiative’s innovation lies in the fact that it combines large-scale renewable energy production, energy storage, and direct supply to industrial consumers, creating a model for energy self-sufficiency and industrial resilience. This solution can support the facility’s security of supply, while also providing the potential for additional functions, such as grid stability services and demand response.
Green Hub North has been designed as a project with the potential for phased expansion. Phase II calls for the development of green hydrogen production for heat and electricity applications, with a 60 MW electrolyzer and an estimated production of approximately 2.5 ktpa of H₂. Phase III calls for further expansion of photovoltaic capacity and energy storage, a second direct high-voltage transmission line from the Lagkada area to the Thessaloniki Industrial Complex, as well as the development of green ammonia production with an estimated output of approximately 30 ktpa NH₃, intended for maritime and fertilizer applications.
The Initiative is not limited to reducing emissions but creates a comprehensive framework for industrial transition toward cleaner energy. Through Green Hub North, HELLENiQ ENERGY strengthens the resilience and competitiveness of its industrial operations, helps relieve congestion in the power grid, and creates the conditions for the development of green molecules and new energy value chains in Northern Greece.
Green Hub North is expected to have a significant and measurable environmental, energy, and development impact, making it one of the most important initiatives for decarbonizing a heavy industrial facility in Greece.
From an environmental perspective, the first phase of the project aims to reduce the Thessaloniki Industrial Complex’s Scope 2 CO₂ emissions by up to 70% (approximately 50,000 tCO₂), by replacing a significant portion of the electricity from the grid with renewable electricity that will be generated and utilized directly by the industrial facility.
From an energy perspective, the project enhances the facility’s autonomy, resilience, and security of supply by utilizing a combination of photovoltaics and energy storage. The ability of the PV/BESS to function as a resilience support system for the Thessaloniki Industrial Complex, as well as its potential to provide grid stability and demand response services, adds value both to the facility and to the broader energy system.
From an economic and social perspective, the first phase of the project represents an estimated investment of approximately 200 million euros, while subsequent phases are projected to require an additional investment of approximately 600 million euros, provided that the relevant markets continue to develop. The project is expected to create approximately 400 jobs during construction and approximately 30 specialized jobs during operation, boosting the local economy and fostering skills development in clean energy technologies.
Beyond the immediate results, Green Hub North lays the groundwork for the development of green hydrogen and green ammonia, with an estimated production of approximately 2.5 ktpa of H₂ and 30 ktpa of NH₃ in subsequent phases, linking the industry’s energy transition to new markets and applications for clean fuels.
Thessaloniki Industrial Complex, with the development of related energy infrastructure in the Kilkis and Lagkada areas and a direct high-voltage connection to the industrial facility.
The implementation of Green Hub North is based on a specialized framework for technical and energy cooperation, which requires coordination among the relevant units of HELLENiQ ENERGY, the technical teams responsible for the design, renewable energy and energy storage project design, development, and implementation, as well as the relevant authorities responsible for high-voltage electrical interconnections and the project’s operational integration into the industrial environment.
The Initiative relies primarily on the contribution of the Group’s specialized staff and technical teams, who participate in the design, development, and preparation for the implementation of a complex energy transformation project. This involvement primarily involves executives with expertise in energy projects, renewable energy, energy storage, industrial operations, technical design, environmental management, and strategic planning for the energy transition.
At the same time, the Initiative is expected to generate significant employment during the development and operation phases, with approximately 400 jobs during construction and about 30 specialized jobs during operation, thereby boosting local employment and fostering the development of expertise in clean energy projects.
The implementation of Green Hub North substantially reinforces HELLENiQ ENERGY’s strategy for sustainable development, energy transition, and reducing the carbon footprint of its operations. Through this initiative, the Group is moving from commitment to action by developing a large-scale, technologically advanced solution that links renewable energy production with industrial consumption and decarbonization.
The project enhances the competitiveness and resilience of the Thessaloniki Industrial Complex by reducing exposure to Scope 2 emissions and strengthening the facility’s energy self-sufficiency. At the same time, Green Hub North positions HELLENiQ ENERGY as a pioneer in the implementation of innovative industrial decarbonization models, as the first phase of the project is characterized as a “first-of-its-kind” behind-the-meter PV/BESS solution at a European refinery and petrochemical complex.
The initiative also strengthens the Group’s positive image and credibility among investors, institutional bodies, employees, local communities, and other stakeholders, demonstrating the Group’s ability to implement complex projects that combine environmental benefits, energy security, technological innovation, and growth prospects.
At the same time, the project’s connection to future applications of green hydrogen and ammonia strengthens HELLENiQ ENERGY’s position in emerging clean fuel markets, creating opportunities for diversification, new partnerships, and participation in value chains that will be critical to the energy transition in industry, shipping, and other sectors.
