Greece – Green Hydrogen Production Investment on Crete




Greece – Green hydrogen production investment on Crete.


A consortium of businesses and science and technology bodies, led by the Eunice group, has announced an investment of 11 million euros for the construction of a hub for the production and distribution of green hydrogen in Atherinolakkos, Crete.


The Crete Aegean hydrogen valley project is in the planning phase and must be followed by licensing, which is one of the project’s challenges as it is the first investment of this category to be developed in Greece on a commercial scale (the target is the production of 500 tons of hydrogen per year).


The design envisages the disposal of hydrogen for different uses, namely transport, shipping and electricity generation.


The green hydrogen will be produced using exclusively renewable energy sources, which will come in the first phase from a 3-megawatt photovoltaic park that Eunice is going to develop.


However, as the vice president of Eunice, Giorgos Pechlivanoglou, pointed out, the further development of green hydrogen production presupposes the securing of abundant and cheap energy from renewable energy sources by connecting the hydrogen project with two other initiatives of the group, for the electrical interconnection of Crete with Egypt and the construction of RES units on the islands of the Aegean.


Pechlivanoglou argued that Egypt’s project is feasible and added that it has not been abandoned.


Green hydrogen production investment on Crete, June 15, 2023



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