THESEUS Project

The objective of the THESEUS project is the implementation (by Greek and European industrial partners under leadership of Solar Millennium AG) of a commercial European parabolic-trough power plant, with a 52-MWe capacity produced by a 300,000-m² solar field, on the island of Crete. A detailed design of the solar field and power block has been completed, and a local project company, THESEUS S.A., has been founded. However, difficulties in reserving land required the THESEUS project development team to look for an alternative site. Screening and negotiation for reservation of a site are ongoing. Issues regarding establishment of the new Greek deregulation authority and definition of power purchase conditions for solar thermal power in a privatized Greek power market are also of concern.
The financial support from the 4th and 5th European Framework programs is acknowledged.

Project Benefits

Competitive electricity generation cost on Crete

with grants less than average of existing fossil power plants in Crete

without grants less than gas turbine generation cost

Balance of payment

approx. 4 million Euro saved every year by displacement of 28,000 tons of oil imports

Reduction of CO2 and other emissions

80,000 t CO2 annually starting in first year of operation

Creation of more than 2 000 qualified jobs (man-years)

for supply, construction and erection and operation

Pure solar renewable electricity generation with 95% security of supply in summer

In general, excellent match with Cretan power demand profile

Higher Tax Revenues to Greece

Income from manpower and capital is taxed higher than fuel imports