Renewables

Greek gas firm DEPA Commerce in talks to enter wind, solar projects

Greek gas DEPA Commerce wind solar

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September 28, 2020

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Published:

September 28, 2020

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In line with its declared strategy to create a 200 MW renewable energy portfolio, Greek state-controlled DEPA Commerce is negotiating with project developers to participate in planned wind parks and photovoltaic systems or buy stakes in such power plants that are under construction, according to local media. The gas supplier co-owned by Hellenic Petroleum is on sale and seven investors passed the first phase in the privatization process.

Strong interest was registered after Greece offered to sale two units of its dominant gas company DEPA, according to the European Commission’s latest report on the compliance with the conditions for the country’s earlier bailout. Separately, Energypress learned gas supply arm DEPA Commerce, also known as DEPA Commercial, is negotiating with potential partners about its strategy to enter the renewable energy business.

The article, which doesn’t reveal sources, adds the firm intends to develop a green energy portfolio of 200 MW. Talks are apparently underway with developers of future wind and photovoltaic parks and facilities that are already being built.

Divestment is scheduled to be finished after DEPA Infrastructure is sold

The European Union’s executive body said six offers for DEPA Infrastructure and seven for DEPA Commerce entered the second phase of the privatization. The procedures were launched in December and January, respectively, but the coronavirus pandemic caused delays.

DEPA Commerce’s strategy amid the split of the parent utility is to diversify its energy activities

As the economic downturn slashed the value of Hellenic Petroleum, its sale was postponed indefinitely, the European commissioners underscored. The oil company has a stake of 35% in both gas firms.

The Ministry of Environment and Energy scheduled the completion of the sale of the gas network operator for January, while it aims to divest of DEPA Commerce after that.

Karagiannakos: Hydrogen, biomethane in focus

DEPA’s Executive Director for Gas Supply, Commercial and International Activities Konstantinos Karagiannakos recently stated the company is expanding its scope to serving other industries and off-grid customers through its small-scale liquefied natural gas (LNG) and remote compressed natural gas (CNG) programs.

He added that another area for diversification is the push into renewable energy and alternative fuels such as hydrogen and biomethane. The latter is free of carbon-dioxide, unlike biogas, and is also called renewable natural gas (RNG) and sustainable natural gas.

He also stated the company is expanding into new activities, such as catering to industries and remote customers off-grid, through Small Scale LNG and Remote CNG technologies, but also gas propulsion, developing a nationwide network of gas stations, called Fisikon. At the same time, it carefully plans its entry into RES, as well as alternative fuels, environmentally friendly, such as hydrogen and biomethane.

DEPA Commerce owns gas distributor Fysiko Aerio – Hellenic Energy Co.

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