Mitsotakis: The Vertical Corridor places Greece at the centre of developments

Prime Minister Kyriakos Mitsotakis visited at midday the under-construction 840MW combined-cycle thermal power plant at the Alexandroupoli Industrial Area (VIPE).

The new plant will strengthen the network of energy infrastructure that Greece now has at its disposal to serve its own needs and to provide energy security to the wider region.

The unit under construction, the result of an investment of more than €400 million by PPC and DEPA Commercial, is expected to be integrated into the country’s electricity system within 2027, and 80 permanent jobs will be created for its operation.

“This visit is particularly important, as it comes one day after the significant announcements made in Washington regarding the activation of the Vertical Corridor, a very ambitious project that places Greece at the centre of the geopolitical and geo-energy developments of a wider region,” the prime minister stressed during the visit.

“There is no doubt that if one looks back 6–7 years, especially here in the Alexandroupoli area, we are talking about a different city, a different Evros, a completely different dynamic. And this is largely due to the government’s choice to prioritise Alexandroupoli’s unique geographical position in our energy planning. And I think it is clear that we are being vindicated for the choices we have made,” Mr Mitsotakis added.

The prime minister was briefed on the progress and completion timetable of the project by PPC Deputy CEO Alexis Paizis, DEPA Commercial CEO Konstantinos Xifaras, and Dimitris and Christos Copelouzos of the Copelouzos Group, which through Damco has undertaken construction.

Visit of Prime Minister Kyriakos Mitsotakis to the Regional Unit of Evros, Wednesday 25 February 2026.

During the tour of the construction site, the role that the new unit can play in strengthening Greece’s position as a regional energy hub was highlighted, as it is expected to supply markets in southeastern Europe, while also boosting the country’s energy resilience during a period of geopolitical uncertainty, in combination with the RES that have been developed.

As part of this strategy, the new thermal power plant will also be connected to the floating storage and regasification unit (FSRU) off Alexandroupoli, turning the area into a “crossroads” of electricity and natural gas networks.

PPC Deputy CEO Alexis Paizis noted: “It is a ‘heavy’ industrial unit, it provides flexibility and complements RES. We believe it is a very good investment that enhances the export profile of Greece’s energy mix and shields our national system.”

New programme of 2,000 subsidised DYPA positions in Eastern Macedonia–Thrace

Earlier, the prime minister visited the facilities of Prisma Electronics, a company active in the design, development and production of advanced electronic systems for sectors such as defence, aerospace, shipping, industrial applications and critical infrastructure.

Mr Mitsotakis was given a tour of the production areas by the company’s management, Giorgos, Ilias and Christos Giordamlis. He spoke with staff and was briefed on the innovative solutions offered by Prisma Electronics, which cooperates with leading international organisations such as the European Space Agency, Airbus DS and CERN.

During the tour of Prisma’s facilities, Mr Mitsotakis had the opportunity to announce a new DYPA business subsidy programme for the hiring of unemployed individuals in full-time positions, concerning 2,000 beneficiaries in the Eastern Macedonia and Thrace region. The subsidy will amount to up to €875 per month. The programme will cover wage and non-wage costs, including bonuses and leave allowance.

Concluding the visit, the prime minister noted: “It is indeed a pleasant surprise here, in borderland Alexandroupoli, to encounter a company of such high technology and expertise as Prisma Electronics. Warm congratulations for what you have achieved.

For us, supporting high technology and innovation is a non-negotiable priority. And of course, as ever more resources are spent on European defence, it is very important that there is significant Greek added value in the armaments programmes currently being advanced by the Ministry of Defence, something you have already begun to do. And you should know that there will be continuous support from the Greek state for Greek innovation.

Here you are creating many well-paid jobs. You already have 150 highly skilled, well-paid employees. I would say these are precisely the employees who have benefited and continue to benefit from the government’s tax policy.

For us, the continuous creation of new jobs is also a central priority. Today I am in the pleasant position to announce a new DYPA programme for Eastern Macedonia and Thrace: 2,000 subsidised jobs. The programme will start in two weeks’ time. The previous one had a very high absorption rate. Perhaps you too will be able, through this programme, to attract some new employees.

And of course, what is important is that the company can invest in its employees. I see that you have staff here who have been with you for many years, and I think that has particular value. There is no successful company without satisfied employees, especially for such important and demanding work as that carried out by your staff.

So I would also like to convey from here that the Greek innovation ecosystem, especially that which relates to defence or the protection of critical infrastructure, to our shipping industry, receives the attention and full interest of the state.

I wish you continued success, new innovative projects, more satellites, new systems for our defence industry, and growth, with more employees and more jobs.”

Prisma Electronics CEO Christos Giordamlis stated: “It is our pleasure and honour to have the Prime Minister of the country here today, so that he can see with his own eyes how Greek companies produce and innovate — at Prisma Electronics’ factory, electronics for defence, space and shipping, as well as a multitude of other applications — enabling many other Greek and European businesses to find reliable products to conquer international markets.”