Renewables

Hellenic Petroleum becomes HELLENiQ Energy to move into sustainability era

Hellenic Petroleum HELLENiQ Energy sustainability

Photo: HELLENiQ Energy

Published

September 21, 2022

Country

Comments

0

Share

Published:

September 21, 2022

Country:

Comments:

0

Share

Hellenic Petroleum changed its brand identity including the name. The company now called HELLENiQ Energy said it wants to leave behind a legacy structure and clear the way for renewables.

Shareholders of Hellenic Petroleum adopted the decision at an extraordinary meeting to change the name to HELLENiQ Energy. Following in the footsteps of the likes of Total – now TotalEnergies, British Petroleum (BP) and Statoil, which became Equinor, the oil refiner and petrochemicals producer said its umbrella brand reflects the intention to clear the way for renewable sources, emission cuts, e-mobility and new areas outside the core activity.

“We plan and implement a cleaner and more sustainable future for everyone. So as the energy market changes, so do we, to promote cleaner forms of energy,” Chief Executive Officer Andreas Shiamishis said.

Makeover includes corporate restructuring

HELLENiQ Energy revealed that it would also work to upgrade its governance and organizational structure. The iQ in the new name stands for ingenuity, according to the announcement.

The vision accompanying the change in the brand identity is to provide long-term access to sustainable energy for all, the company said. “Providing sustainable energy for the people and becoming carbon neutral as a company means we leave behind a legacy structure and commit to a new clear value proposition,” it added.

HELLENiQ Energy – from utility-scale solar power to offshore oil exploration

HELLENiQ is traded on the Athens Exchange, with a secondary listing on the London Stock Exchange. The company has built the biggest solar power park in Europe with two-sided (bifacial) panels. At the same time, it is conducting hydrocarbon exploration in the Ionian Sea and the Mediterranean.

Its competitor Motor Oil recently founded a clean energy subsidiary called MORE (Motor Oil Renewable Energy). Both refiners participate in a major green hydrogen project and are buying solar and wind farms and projects. Both companies are interested in offshore wind power projects in Greece. Motor Oil is also active in the geothermal energy business.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Croatian Chamber of Economy lex specialis for renewables position paper

Croatian Chamber of Economy asks for lex specialis for renewable energy sector

28 March 2024 - The Association for Renewable Energy Sources produced a position paper identifying obstacles and possible solutions

romania delgaz hydrogen 20HyGrid

Romania successfully tests blending hydrogen in natural gas distribution grid, households

28 March 2024 - E.ON Romania declared success in its test of blending hydrogen into the gas network and using the mixture in households.

IRENA-Global-solar-power-capacity-surpasses-hydropower-in-2023

IRENA: Global solar power capacity surpasses hydropower in 2023

28 March 2024 - The world's renewable electricity capacity additions in 2023 hit a record 473 GW, dominated by China. Solar power became the largest segment in total.

aleksander mervar eles krsko solar slovenija

Mervar: Electricity from Krško 2 nuclear project won’t be cheaper then EUR 125 per MWh

27 March 2024 - CEO of Slovenia's TSO ELES Aleksander Mervar said gas power plants need to be built to prevent the need for large electricity imports