This week, it has been one year since an earthquake struck Archalochori, in the Greek island of Crete on September 27th 2021, killing one person and injuring 20 others. The earthquake caused damage to homes and local businesses, and caused rock slides near the country’s fourth-largest city.
The earthquake’s strength was surprising to seismologists. Professor Ethymios Lekkas of the University of Athens said “it was a shock to learn of the earthquake that struck Greece on Monday”, as the scientific community assumed that the seismic activity in the region had ended.1
Minoan Energy Community’s second project will provide free shares or participation to 100 low income households that were heavily affected by the earthquakes at Archalochori! It is a 1 MW solar PV park for collective self-consumption, ground mounted, to be grid connected on a 25 year Virtual Net Metering contract and forecast revenue in excess of €392,000 per year. Grid connection terms signed in Q2, 2022, in Crete Island.
“What actually triggered our initiative is our willingness to take in our hands the topic of energy transition in Crete”
Dimitris Katsaprakakis is a founding member of the Minoan Energy Community. He is a Dr. in Mechanical Engineering, with a degree from the National Technical School of the University of Athens NTUA. He works as a First Degree Professor at the Department of Mechanical Engineering of the Hellenic Mediterranean University.
Minoan Energy Community has recently been awarded in the framework of the European Sustainable Energy Week 2022 in the Local Energy Action category. This award concerns sustainable energy actions that are organized and implemented by a group of citizens or consumers and that contribute to the transition to clean energy at community or local level. (EUSEW)
The Minoan Energy Community is truly an inspirational model and an example to emulate at the European level and beyond. It has implemented its first solar PV park in Crete and already provides clean energy to around 200 households and small businesses.
Minoan Energy is a cooperative made up of private individuals and local businesses, which, with the support of Region of Crete and many other Municipalities that are members of it, contests to be part of the energy transition from fossil fuels to Renewable Energy Sources (RES), promoting at the same time the sustainability and socially inclusive economy.
Their key objective is to promote the energy democracy, that is the active participation of their citizens, local self-government, small and medium-sized businesses in the generation of their own energy for self-consumption, as well as for their financial support. The first energy projects of the Community are already in progress. Because it is time that we turn the sun and wind in their region to their own advantage, securing returns above 25%.
Invest now in this project, and earn market-rate returns while helping this local community revive after the earthquake. That is Minoan E.C.! A safe, ethical investment opening for big and small investors alike! Whether you wish to invest 15€ or 10.000€, this is a fantastic option.
Why is it important?
The solar photovoltaic park will generate 1,486,002 kWh/year and save 1,650 tons of CO₂ per year. The required investment is €756,578 and Minoan members have already contributed €600,000 of their own funds. For this purpose, Minoan is looking for a loan to cover €156,578 of construction costs.
- 5% annual interest rate
- 5 years
- Monthly repayments
Invest now with a competitive interest rate in Minoan Energy!
Minoan Energy Community needs you! Click here for further details.