Renewables

Terna Energy to invest EUR 250 million in renewables in Greece

Greece

Photo: Viotia wind farm (terna)

Published

October 28, 2019

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Published:

October 28, 2019

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Greek energy group Terna Energy has announced EUR 250 million in new investments in renewable energy sources in Greece.

Continuing its investment program in Greece, Terna is implementing new investments of more than EUR 250 million in the clean energy production sector, the company has said on its website.

In 2019 the company began its investment of EUR 150 million in Evoia, with the implementation of nine wind farms with a total capacity of 121 MW. The project is expected to be gradually completed in the first half of 2020.

The company is in the late stages of additional EUR 800 million in investments

At the same time, through recent tenders in the renewables’ market, Terna has secured additional new projects in Central Greece, where new wind farms with a total capacity of 96.6 MW will be constructed. The total budget exceeds EUR 104 million while the construction of the wind farms will begin in the coming months and is expected to be completed between 2021-2022.

George Peristeris, Chairman of Terna, has said the company hopes that soon the institutional interventions that are now pending will be finally implemented, in order to allow additional investments of EUR 800 million in the field of pumped energy storage. These investments are ready for immediate implementation, Peristeris said.

In September, Terna Energy said that the 158 MW Gopher Creek (Fluvanna 2) wind farm in Borden County, Texas, has commenced commercial operation while all the procedures for the acquisition of the Bearkat wind farm in Glasscock County, Texas have been successfully completed.

In August, Terna secured EUR 117 million in non-recourse refinancing for the 73.2 MW Aghios Georgios wind farm, largest in Greece.

Overall, the company operates, is constructing or has fully licensed 1,512 MW of renewables power plants in Europe and the US. The total installed capacity of the Group amounts to 1,390 MW.

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