AVAX to build 800 MW combined‑cycle plant in Larissa, Greece

AVAX Group has signed a contract with Larissa Thermoelectric to study, construct and operate a 800 MW (net 794 MW) combined‑cycle power plant in the industrial zone of Larissa, Greece. The plant will use Mitsubishi Power’s M701JAC technology, the first of its kind in Europe, and will be capable of running on natural gas with future hydrogen‑blend capability.

The Final Investment Decision is expected before the end of 2026, after which construction is slated to take about 38 months. The investment is backed by partners including Clavenia (38.5 %), Sirec Energy (16.5 %), Volton (10 %) and DEPA Trading (35 %). The project is positioned as a key element of Greece’s energy transition, adding high‑efficiency, flexible generation capacity and supporting regional development in Thessaly.