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DEPA: The CEO, Mr. Konstantinos Xifaras, speaking at the Economist conference
In the last two years, DEPA Commercial has managed not only to reverse the difficult situation in which it had found itself, but to achieve a total recovery, now being a valuable asset for its shareholders and customers.
The strategy of high vertical integration is at the core of the new business plan of DEPA Commercial. It combines production with energy commerce and the diversification of products and markets.
DEPA Commercial plays a leading role in the de-carbonization and energy transition of the country, with its entry into RES and electricity commerce, as well as with its investments in alternative fuels, such as hydrogen.
The CEO of DEPA Commercιal, Mr. Konstantinos Xifaras, speaking at the Economist conference, described the systematic evolution of the company, during the last two years, into an integrated energy company.
Mr. Xifaras emphasized the fact that DEPA Commercial’s new business plan, responds to market trends – the energy transition, the continuous increase in demand for natural gas, with predictions of 75 TW by 2025, but also the intensity of competition – which favor companies with high vertical integration.
“DEPA Commercial has achieved a total recovery in the last two years. It regained a significant market share in its main commercial activity and successfully completed its transformation, maintaining exemplary labor peace at the same time. Our main drive is the differentiation of products and markets and the vertical integration. In the liberalized and highly competitive domestic market, in view of the privatization, the high vertical integration increases the competitiveness of DEPA Commercial “.
The CEO of DEPA Commercial also mentioned natural gas, which plays a key role in the energy transition, and especially in our country it will fill much of the gap that will be created by the planned withdrawal of all lignite plants by 2028.
For this reason, DEPA Commercial – underlined Mr. Konstantinos Xifaras – is constantly expanding the uses of natural gas, offering more products and opportunities to consumers.
- Develops applications for small scale liquefied natural gas (Small Scale LNG), but also CNG units for islands and remote areas, breaking their energy isolation.
- The company is systematically expanding its nationwide network of gas stations with CNG (FISIKON), thus offering the benefits of gas to more drivers and regions of the country. There is a significant progress as 4 new gas stations have already been added to the network (SEA Evangelismos Larissis & SEA Psathopyrgos Achaia), with another 4 (in Igoumenitsa, Kozani, Chalkida, Thessaloniki) scheduled to be built. The goal is for 27 gas stations to be built by the end of 2021.
- The company promotes LNG as a maritime fuel in the Eastern Mediterranean, building an innovative transport vessel that will supply power the ports of the wider region.
DEPA International Projects “develops the infrastructure that guarantees the energy efficiency and security of our country while turning Greece into an international energy hub, upgrading its economic and geopolitical position. Alexandroupolis LNG Station, EastMed, IGB “.
Mr. Xifaras noted that alongside with de-cardonization and the energy transition being a great challenge for the companies in the energy sector, DEPA Commercial:
- Enters the production of green energy by developing a “green” portfolio of over 200 MW through its participation in photovoltaics in areas of Western Macedonia that are in an energy-transition phase.
- Secured a 500 MW electricity retail license
- Preparing to enter the market of bilateral electricity sales contracts – PPA’s.
- Is leading the development of alternative “clean” fuels, such as hydrogen.
- Is expanding its retail activities (natural gas and electricity), through its subsidiary Natural Gas – Hellenic Energy Company, which is constantly increasing its share in the domestic market
All the initiatives undertaken by DEPA Commercial in the last two years, noted Mr. Xifaras, “had the fully support of the Board at every step and were crowned with success thanks to the work and dedication of the company’s executives. With these targeted moves, as Mr. Xifaras stressed, “DEPA Commercial managed to convert from a possible problem into a valuable asset for its shareholders (the Greek State) and its customers, enhancing constantly its value, in view of its privatization »
Source: Website Newsroom