Shifting towards sustainability
Energy production in Greece
Clean Shift identifies, establishes and commissions facilities for electricity production in Europe. We run our projects in collaboration with local suppliers with good knowledge of the market and aim to secure predictable revenue flows through long-term agreements.
Our projects are selected with a focus on sustainability, long-term and financial stability. Our current focus is on projects in electricity production from biogas. During the coming years, our intention is to build and operate a number of small anaerobic digestion plants in Greece, which you can read more about below. The project was initiated H2 2024.
Project 1 – Elassona, Larissa (upgrade to 1,5 MW)
In the first project, Clean Shift intends to upgrade an existing biogas plant from 0.5 MW to 1.5 MW. The project company, Vioaerio Elassonas S.M.P.C., owns approximately 26,800 m² of land and leases an additional 32,000 m² in direct connection to the facility. For the existing 0.5 MW plant, all key permits have been obtained, including an approved grid connection. For the upgrade to 1.5 MW, an environmental permit is pending and is expected to be finalized during Q1 2026. Once the environmental permit has been approved, Clean Shift intends to acquire the remaining 15 percent of the shares in the project company, thereby becoming the sole owner. The revenue model is based on the government support scheme Feed-in Premium (FiP) through the state counterparty DAPEEP. To date, the company has secured approximately SEK 18 million in financing, which strengthens the conditions for advancing the project into the implementation phase. The total investment cost for the facility at 1.5 MW is estimated at approximately EUR 5.62 million.
Project 2 – Central Greece (1,0 MW)
An existing biogas project in central Greece, currently with a capacity of 0.5 MW, is planned to be expanded to 1.0 MW, including the installation of a fertilizer production unit. The project already holds a production license for 0.5 MW as well as a building permit, which means the upgrade can be carried out relatively quickly. The estimated investment cost amounts to EUR 4.5 to 5.0 million (including the fertilizer facility). Discussions regarding financing are ongoing between the project owner and the technical partner Biogest, but no final agreement has yet been reached.
Project 3 – West Greece (3,0 MW)
This large-scale biogas project in western Greece has a capacity of approximately 3.0 MW (2.998 MW) and is fully licensed, with approved environmental conditions and a granted grid connection offer. The facility is therefore ready for construction, provided that the technical documentation is finalized and installation and building permits are obtained. The estimated total investment cost amounts to approximately EUR 16 million, of which around EUR 1 million relates to a biofertilizer production unit. The project owner lacks its own financing and is currently negotiating with Biogest to finance and construct the facility in exchange for a minor ownership stake or a potential sales option. Construction is expected to begin within approximately 6 to 8 months.
Project 4 – Central Greece (1,0 MW)
This project concerns a new biogas facility that is not yet fully licensed. The project has obtained a production license and approved environmental conditions, but grid connection remains pending. The project owner intends to sell the facility together with a plot of approximately 11 hectares and an existing 500 m² building to an investor. Clean Shift is evaluating the possibility of acquiring and completing the project once the grid connection has been secured.
Project 5 – Northern Greece (3,0 MW)
In northern Greece, a land area of approximately 55 hectares is available for a future biogas facility planned with a capacity of 3.0 MW and an associated fertilizer production unit. The area has abundant access to feedstock from surrounding agricultural and livestock operations. The landowner is interested in collaborating with investors and can also act as a coordinator for substrate collection. The project is currently in the planning stage and requires new permits before construction can begin.
Future opportunities
In addition to the above, further opportunities have been identified to develop additional biogas projects in various parts of Greece. These projects are in an early stage and would require complete permitting processes from the outset. The timeline for new projects is estimated at approximately one year for permitting and an additional year for construction. The technical partner Biogest can, in these early phases, provide project management, equipment supply, and support with financing.
Converting waste
Our plants will produce biomethane by anaerobic digestion of feedstock, thus providing an RNG (Renewable Natural Gas).
Set sales price
We have an agreement to sell our energy with a fixed price for 20 years’ forward.
Low cost
The low cost and high availability of feedstock, combined with an efficient and low labor demanding process, makes this a compelling business case.