Pavlidis Marble-Granite to invest EUR 70 million in four wind farms

Greek company Pavlidis Marble-Granite will invest EUR 70 million in renewable energy in the next three years.

The Pavlidis Marble-Granite’s board approved an investment plan worth EUR 70 million for the period 2017-2020. The plan envisages the development of four wind plants in Greece with a total power of 50 MW, reports news agency ANA-MPA.

Construction works are planned to begin in March 2017. This investment will improve the company’s project portfolio when it comes to renewable energy. Pavlidis Marble-Granite, one of the main producers and exporters of white marble worldwide, expects positive results in 2016. Investing in wind energy would offer new sources of liquidity, according to the management.

The energy parks will generate electricity in Macedonia and Thrace and more particularly in Serres, Komotini and Thrace.

In addition to their main activity in exploiting and exporting white marble, the company’s industrial installations which use renewable energy sources include photovoltaic parks with a total capacity of 5 MW which have an energy equivalent to 12.000.000 m² of forest and provide energy autonomy to the company with the added advantage of not burdening the environment with 6.250 tons of CO2. Company’s wind energy parks have total capacity 18 MW.