Leading the way in the new era of shift to the green economy and sustainable development, the Mytilineos group announced yesterday that the Commission was announcing the European Union’s strategy for a comprehensive European energy system and hydrogen, transforming the sector. Project EPC – METKA in a new, modern and innovative Business Unit, Sustainable Engineering Solutions (SES BU), as an autonomous General Directorate. This coincidence suggests the importance and perspective of the group’s coordinated turn to the green agenda and the goodwill it will generate for the companies involved in its implementation. At the same time, Mytilineos’ identification with sustainable development is boosting the group’s investment attractiveness, as more and more investment funds are looking to invest in sustainable development.
The sectors of clean energy (mainly wind and hydroelectric projects), energy storage, energy infrastructure, the environment and large infrastructure are the pillars of the European program for economic recovery. These investments have a high rate of domestic value added that sometimes exceeds 70%, but also a multiplier approaching 2, ie for every 1 euro invested in these sectors, the Greek economy returns about 2 euros. The Mytileneos Group’s emphasis on these activities ensures that these significant assets are produced in the country. Thus, with the contribution of the new Business Activity Sector Sustainable Engineering Solutions, the group manages to orient itself in a sector that creates value for shareholders, employees, but also for the entire Greek Economy.
A new market is emerging
The new sector is focused on sustainable development projects, helping businesses and the state to achieve the national and global goal of energy transition, while creating a growth dynamic in the portfolio of their projects.
Within the goals of the green agenda, the entire economy, society, the state and businesses should operate in a different sustainable way, setting new priorities such as reduced environmental footprint, energy savings, self-production. Mytileneos is leading the way in this new era and with the Business Unit, Sustainable Engineering Solutions, provides the solutions and undertakes the projects that need to be done so that gradually everyone is aligned with the European goals of the green era.
In addition, more and more funds will be provided in the near future by public bodies for the implementation of such projects (from street lighting projects to energy savings, to waste management), as the green agenda comes to the fore. With 75% of greenhouse gas emissions at EU level coming from energy, a radical shift is needed to achieve the 2030 and 2050 targets. And that shift is going to require a lot of investment and a lot of value in a business chain will undertake and implement these projects.
Indicatively, the projects included in the new General Directorate of Mytilineos concern:
- solid and liquid waste management,
- hybrid and off-grid energy projects,
- energy upgrade projects,
- execution of innovative first-of-kind energy projects (eg, hydrogen projects).
Infrastructure, Sustainable development solutions and construction of thermal units
Utilizing its know-how in Sustainable Development Solutions, MYTILINEOS strengthens the group’s activity with new Sustainability projects, laying the foundations for a promising future.
At the same time, it aims to continue to use its competitive advantage in the construction of thermal units and to further develop in the field of Transmission & Distribution (T&D) and to develop very targeted in the field of infrastructure, through PPP projects and projects that require high know-how, in view of major projects that have been announced in our country in the context of restarting the economy in the post Covid – 19 era.
In terms of organizational structure, it emphasizes four main characteristics:
- flexible and efficient shape,
- emphasis on optimizing project execution costs,
- discretion and performance management,
- maximize synergies with the rest of the Business Activities (Metallurgy – Electricity and Natural Gas – Renewable and Sustainable Energy Process Development) and of course with the rest of the General Directorates of Support (Legal, Treasury, HR & Finance), Communication and