Mytilineos group member Metka SA announced the establishment of a new subsidiary firm, Metka EGN, through a joint venture with the Egnatia Group, with the aim of bolstering its portfolio, including in the solar energy market. The international engineering, procurement and construction contractor (EPC) and industrial manufacturing group, active within the energy, infrastructure and defense sectors, holds a 50.1% stake in the new venture.
Metka EGN will seek to combine Egnatia’s experience in EPC projects for photovoltaic systems and related projects with Metka’s overall energy sector know-how, geographical presence, and organizational strength, the press release said.
Metka EGN will focus on major clients, especially in Europe, the Middle East, Africa, and Latin America. Subsidiary firms fully controlled by Metka EGN have been formed in the United Kingdom and Cyprus. The portfolio may reach a total installed capacity of up to 500 MW in the first quarter of 2016, Metka said.