Holding company Adris and renewables developer ENCRO signed an agreement on the establishment of a 50-50 joint venture for investments in renewable energy. Adris said in a statement that this is an effort to diversify the holding’s business and increase its energy independence.
The joint venture should develop six renewable energy projects – five solar power plants and one wind farm. The combined installed capacity of five solar power plants will be 141.8 MW, while the wind farm will have a 122.3 MW output.
Solar power plants are expected to be commissioned by the end of 2024, while the wind farm should be commissioned in early 2025. With this investment, Adris Group continues its robust investment plan worth over 500 million euros.