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 generation projects in the country.

Shipping group Tsakos, established in 1970 by Captain Panagiotis N. Tsakos, and industrial and energy specialist Metlen signed a strategic partnership for the development, construction, operation (energy management), and commercial management of one of Greece’s largest hybrid power generation projects.

At the core of the partnership is the creation of a joint venture (SPV). According to the plan, Metlen (holding the 40%) and Tsakos Group (the 60%) will participate in a joint venture to develop and operate a hybrid power plant from renewable energy sources with integrated energy storage system consisting of a 251.9 MW photovoltaic park and an energy storage system with an expected capacity of 375 MWh, located in central Greece.

The implementation of the investment is expected to commence in 2026, with completion targeted for early 2028.

For Metlen, this partnership strengthens its strategic positioning in next-generation renewable energy.

On the other hand, with this investment, the Tsakos Group marks its dynamic entry into a large-scale energy project in the Greek market.

Headquartered in Athens, the Tsakos Shipping and Trading oversees the management of a diversified fleet of tanker vessels. Recently, the company announced the naming and delivery ceremony of its MR product oil/chemical tanker Delos T and the naming ceremony of its Dion.

The Marshall Islands-flagged vessels were constructed at Jiangsu Shipbuilding Group, incorporating the latest design innovations and advanced technical specifications.