Greece: Joint investments of EDPR and Ellaktor in wind power projects

, SEE Energy News

In order to increase their renewable energy portfolio in Greece, Ellaktor Group and EDP Renewables have established a strategic partnership with a plan to invest one billion euros over the next four to five years in the development of wind farms with a total capacity of 900 MW.

EDP Renewables considered its current RES portfolio in Greece of 152 MW insufficient to secure investment opportunities in the country, thus it decided to establish a partnership with Ellaktor. On the other hand, Ellaktor Group, with RES portfolio of 490 MW, is looking to further bolster its position in the renewable energy market. By joining their portfolios, the two companies believe they will be better positioned for anticipated market changes and opportunities.

The plans of the two companies include development of two wind farms with a total capacity of 436.8 MW in central and southern parts of the island Evia. A further 460 MW will be developed from a portfolio of existing licenses. These licenses are not linked with Ellaktor’s portfolio of already operating wind farms.

Ellaktor already holds a total of 26 RES projects, all operating. They are comprised of 24 wind farms with a total capacity of 484 MW, one small-scale hydropower plant (5 MW) and one solar energy farm (2 MW), offering a total installed capacity of 491 MW.