Renewables

HELLENiQ Energy takes over 180 MW solar power project portfolio

HELLENiQ Energy takes over 180 MW solar power project portfolio

Photo: HarmvdB from Pixabay

Published

August 30, 2023

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Published:

August 30, 2023

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HELLENiQ Energy’s subsidiary HELLENiQ Renewables is acquiring a group of solar power plants under development in Greece, with a combined capacity of 180 MW.

Soon after deals for 811 MW in photovoltaic projects in Romania and winning a maximum allowed capacity in a battery auction in its homeland Greece, HELLENiQ Energy made another move in its decarbonization efforts. The oil refiner, petrochemicals producer and filling stations operator said its 100% subsidiary HELLENiQ Renewables signed a deal on the takeover of a solar power project portfolio in Kozani.

The group of PV plants will be acquired upon the start of commercial operations from Lightsource Renewable Energy Greece Holdings (UK), the announcement reveals. The sites are in Kozani in the Western Macedonia province in northern Greece. It is the country’s main coal industry hub, undergoing an economic transformation toward cleaner energy sources with the help of European funds.

All units to come online by end-September 2024

Photovoltaic units from the portfolio are scheduled to be commissioned gradually next year through the end of the third quarter. Over 50% of their output is already contracted on a long-term basis, the company pointed out. The solar power projects were developed by KiEFER.

The company aims to reach 2 GW in operating renewable electricity capacity by the end of the decade

The agreement accelerates the implementation of the group’s strategic plan to reach at least 1 GW of operating renewable energy capacity by 2025 and over 2 GW by 2030, the statement adds.

The company is slowly making progress in the green hydrogen arena as well. HELLENiQ Energy, like its competitor Motor Oil, is rapidly developing its green power branch.

HELLENiQ has energy storage projects totaling over 800 MW

At Greece’s first tender for investment and operating aid for battery energy storage projects, completed earlier this month, the company got all three applications accepted, with 100 MW in operating power in total and a guaranteed capacity of an overall 200 MWh. They are licensed at locations within its Thessaloniki facility.

The competitive bidding process was for 10-year contracts for difference. HELLENiQ Energy said the permits would be valid for 25 years. It is developing energy storage systems in the home country with a total nominal capacity of more than 800 MW.

HELLENiQ Energy announced its first green energy investment outside Greece only three months ago. The two solar power parks it bought in Cyprus have a combined capacity of 15 MW and an estimated annual output totaling more than 27 GWh.

The company operates renewable electricity plants with a total capacity of 356 MW in Greece and has a project portfolio of more than 4 GW home and abroad, in various stages of development.

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