Renewables

Greek gas firm DEPA Commerce seeks renewables projects to invest in

Greek gas firm DEPA Commerce renewables invest

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Published

November 3, 2020

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Published:

November 3, 2020

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State-controlled gas supplier DEPA Commerce invited operators of existing wind and solar power units or those in an advanced development phase to express interest if they require investment.

Following earlier news reports on negotiations with developers of wind parks and photovoltaic systems, DEPA Commerce officially declared it intends to invest in such projects. “Any interested economic entity” in the sector can contact the company by November 30 to express interest in cooperating, the call reads.

DEPA Commerce, also known as DEPA Commercial, is Greece’s government-controlled gas supplier. The company is on sale and the latest, unofficial information points to March as the expected deadline for binding bids, after delays.

Privatization was further delayed and binding bids are expected in March, according to the domestic media

Hellenic Petroleum holds 35% of the gas utility, just like in DEPA Infrastructure, for which bids are seen in February. In the four-year business plan through 2024, DEPA Commerce revealed it seeks to transform into a modern energy company.

Its management earmarked more than EUR 120 million for a green portfolio above 200 MW. The media learned the target is at 240 MW. In the latest call, the company said it would invest in electricity from renewable sources and that its focus is on wind and solar power. The units can be finished or in an advanced development phase.

There is over EUR 120 million in the company budget for the development of the green portfolio, which is said to be aimed at 240 MW

DEPA Commerce is also eyeing biomethane, hydrogen and fuel cells. It is one of the founders of the European Clean Hydrogen Alliance.

One of its development programs, called SuperGreen, is for technology for the use of electricity in shipping in combination with other fuels, such as liquefied natural gas – LNG. The endeavor backed by the European Union and implemented in Greece and Cyprus was launched to build three electric ships, a catamaran with a hybrid propulsion system and two LNG tanker trucks to supply it.

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