HELLENiQ Energy entered the Romanian renewable energy market by acquiring four photovoltaic projects, totaling 211 MW, from Mytilineos, according to an announcement made at the Athens Stock Exchange, writes e-nergia.ro.
According to the agreement between the two Greek companies, HELLENiQ Energy will effectively take over the production capacities after they become operational. Currently, they are in an advanced stage of construction and are expected to be connected to the local grid gradually, starting from the fourth quarter of this year and until the end of September 2025, writes Balkan Green Energy News.
Photovoltaic plants could cover the consumption of 100,000 households in Romania, with an annual production estimated at over 300 GWh.
In addition, HELLENiQ Energy said it has entered into a preliminary agreement with an unnamed group to develop 600 MW of photovoltaic power in Romania.
The company, which is active in the segment of fuel refining and distribution in the Greek market, has changed its orientation towards green energy in recent years and even changed its name from Hellenic Petroleum. It owns the largest photovoltaic plant in the Balkans and plans to enter the offshore wind business in Greece.