Greece: Wind project Evia to start in two years

, SEE Energy News

Development plan for wind projects with a 436.8 MW capacity on the island Evia is undergoing licensing, while construction is not expected to begin for another 24 months, said CEO of construction group Ellaktor Efthimios Bouloutas. This project will be realised together with Portugal’s EDPR.

He reminded that Ellaktor plans to invest 20.5 million euros, from a 120.5 million-euro equity capital increase, in the development of RES projects for a 500 MW portfolio increase. The equity capital increase is expected to be completed in July following the prospectus’ approval by the Capital Market Commission in late-June.

Ellaktor plans to expand its RES portfolio, currently dominated by wind projects, through acquisitions of other wind energy facilities as well as solar power plants. RES-sector involvement has proven pivotal in keeping the group afloat during times of crisis. Ellaktor’s installed capacity currently totals 493 MW. More than half of Ellaktor’s EBITDA figure posted for the first quarter of 2021, 28 million euros of 40 million in total, originated from RES projects.