Helleniq Energy eyes acquisition of 20-MW solar park in Cyprus

• Greek energy team Helleniq Energy (previous Hellenic Petroleum) is close to getting a 20-MW solar park in Cyprus in a bargain anticipated to be secured within the next few weeks, Insider Greece reports.

The target 20-MW photovoltaic (PV) farm is already producing electrical power. Particular details about its place and also annual outcome were not available.

The transaction will certainly note the Greek firm's entrance right into the renewable energy market in Cyprus where Helleniq Energy purportedly plans to come to be a principal and develop a portfolio amounting to 50 MW-100 MW.

Along with Cyprus, Helleniq Energy plans to increase its organization in the Balkans as well as Southern Europe, its chief executive officer Andreas Shiamishis told sister publication SeeNews last November. The strategy belongs to the business's technique to go after growth both organically as well as with acquisitions.

Hellenic Energy targets 1 GW of projects in operation by 2026 as well as 2 GW by 2030, a growth that will enable a 50% decrease in its carbon footprint by 2030. At end-2022, the Greek team had 341 MW of set up renewable energy assets. It said in its 2022 annual report it likewise had a pipeline of 2.5 GW of projects, mainly solar, wind and energy storage, in numerous phases of growth.