Hamburg operator Blue Elephant enters 'promising' Greek solar market

Feb 15, 2021 10:38 PM ET
  • Hamburg-based solar driver Blue Elephant Energy has entered the Greek market for the first time by acquiring 2 solar parks totalling 45MWp ability from designer ABO Wind AG.
Hamburg operator Blue Elephant enters 'promising' Greek solar market
Image: ABO Wind

They consist of a 7MWp plant in Kossos, near the northeastern city of Xanthi, and also a 38MWp plant in Megala Kalyvia in the Trikala regional device. ABO Wind got both projects throughout their growth in 2018, and supervise their conclusion between 2019 and 2020. The projects produce approximately 80GWh annually jointly, according to a declaration, as well as makes use of single-tracker modern technology to increase yields. Panagiotis Sarris, ABO Wind's general supervisor, claimed the projects "have confirmed that we can setting up even technically tough solar parks in record time."

ABO also prepares to develop 5 additional projects in Greece's Epirus region, according to a statement from the business.

Tim Kallas, Blue Elephant's chief investment officer, claimed the procurement would enable the company to get in Greece's "encouraging" solar market "along with more diversifying our portfolio geographically".

The company owns and runs wind and also solar projects completing 500MWp ability internationally, as well as acquired a bulk shareholding in a 116MW solar park in the Dominican Republic in 2019. More recently, it participated in a joint development arrangement for a project portfolio covering 237MWp of solar ability in Italy and the Netherlands last month.

Greece's government has pinned its hopes on the fast-growing renewables field as part of its own message COVID-19 economic recovery. Greater than EUR2 billion (US$ 2.44 billion) is to be spent on renewables financial investment projects in Greece over the coming years after the government authorized investment for a 2.8 GW pipeline. It consists of EUR888 million (US$ 1.83 billion) for 1.5 GW of solar PV parks across 12 areas of Central and Northern Greece, as well as a further EUR421.6 million (US$ 514.1 million) for 37 PV plants amounting to 830MW in Larissa, Magnesia and Kilkis.

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