Two of Greece’s most powerful business groups are joining forces in the energy sector, launching an investment that ranks among the largest hybrid power plants in the country.

Shipping group Tsakos and Metlen reach a strategic agreement, the official details of which are expected to be unveiled tomorrow.

At the core of the partnership is the creation of a joint special purpose vehicle (SPV), through which a hybrid renewable power plant with integrated storage will be developed, built, and operated. According to the plan, the Chakos Group will retain a majority stake in the company (60%), while Metlen will hold the remaining 40%.

The project envisages the installation of a 251.9 MW photovoltaic park, which will be combined with an energy storage system with a total capacity of approximately 375 MWh. The investment will be implemented in Central Greece, with a time horizon of starting in 2026 and targeting completion in early 2028.

For Metlen, this partnership further strengthens its strategic shift to next-generation renewables. The company is not limiting itself to shareholding, but is also undertaking the construction of the project, as well as its commercialisation, integrating it into the broader energy management portfolio it is developing.

On the other hand, with this investment, the Tsakos Group marks its dynamic entry into large-scale clean energy projects in the Greek market, in which it has expanded in recent years, strengthening its green development portfolio.