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31.07.2023
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HELLENiQ ENERGY enters the Romanian RES market

HELLENiQ ENERGY Group expands its international presence in RES, through entering the Romanian market with a total portfolio of more than 800 MW, accelerating the implementation of its strategic plan, targeting at least 1 GW of operating capacity by 2025 and more than 2 GW in 2030.

Specifically, HELLENiQ Renewables, a 100% subsidiary of HELLENiQ ENERGY Holdings S.A.:

a) entered into a binding agreement with MYTILINEOS for the construction and acquisition (upon achieving commercial operation) of a portfolio of 4 photovoltaic (PV) parks in Romania, with an aggregate capacity of 211 MW. The projects are in an advanced stage of development and are expected to enter commercial operation gradually, from 4Q23 to 3Q25. The total annual production of the projects is expected to exceed 300 GWh of green energy, enough to meet the needs of 100,000 households.

PricewaterhouseCoopers Business Solutions S.A. (PwC) acted as financial advisor to HELLENiQ Renewables for the transaction.

b) signed a Framework Agreement with another counterparty for the development of a portfolio of PV parks with an aggregate capacity of up to 600 MW in Romania.

The above-mentioned agreements mark HELLENiQ ENERGY Group’s entry into Romania’s rapidly-growing RES market. It is also the Group’s second entry in the international RES market over the last months, following the recent entry in Cyprus’ RES market, accelerating its portfolio growth and strengthening its extroversion.

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