Endesa Hellas S.A. applies for renewal of licence for gas-fired plant in Volos, to build two additional gas-fired plants of 440 MW capacity within next 5 years

Endesa Hellas S.A. announced today it has applied for a renewal of its installation licence for its Volos combined cycle gas turbine plant which will have a capacity of 440 MW when built.

Greek natural gas monopoly DEPA and Endesa Hellas will co-operate to build a new pipeline to the plant.

The first feasibility study and the environmental impact assessment have been performed for the Volos plant, the company said.

Endesa Hellas has also decided to build two additional gas fired plants of 440 MW capacity within the next five years and is investigating sites and preparing proposals.

The company is targeting a 14% market share of the Greek electricity market by 2015 and the company's activities will include thermal and renewable assets.

Metals and engineering company Mytilineos has a 49.9% stake in Endesa Hellas, while the remainder is owned by Spain's Endesa.

Source: Thomson Financial.