Egypt’s Elsewedy Electric agrees to buy 4 wind farms, 1 SHPP in Greece - 4th Annual International Summit and Exhibition: Hydropower Balkans
+44 207 394 30 90 (London)

Egypt’s Elsewedy Electric agrees to buy 4 wind farms, 1 SHPP in Greece

Main » novosti » Egypt’s Elsewedy Electric agrees to buy 4 wind…

Egypt’s Elsewedy Electric, an integrated energy and infrastructure solution provider, has announced entering into a share purchase agreement with R.F. Energy S.A. (a subsidiary of F.G Europe S.A.) to acquire 100% of the share capital of 3 wind energy and 1 hydropower companies in operation in Greece. The total consideration agreed is EUR 55 million, Elsewedy said in a press release.
The 4 companies in Greece that Elsewedi Electric has agreed to buy have an aggregate capacity of 63.6 MW, including three wind farms – Aioliki Kilindrias SA, Kallisti Energeiaki SA, and Aioliki Aderes SA – and one small hydropower plant (SHPP) – Hydroelectriki Achaias SA.

The assets in Greece generate enough energy to power approximately 34,000 homes with an equivalent carbon dioxide (CO2) footprint of 102,000 tons, according to Elsewedy’s press release.

The assets generate enough energy to power 34,000 homes with an equivalent CO2 footprint of 102,000 tons

The assets benefit from a fixed tariff for all of the generated capacity under Power Purchase Agreements (PPA) for tenors varying from 12 years to 20 years. The PPAs stipulate that the public utility offtaker DAPEEP guarantees the purchase of all the energy produced at the wind farms.

The assets benefit from a fixed tariff for all of the generated capacity under Power Purchase Agreements

The wind farms are located at Ermioni in Argolida, Tsouka in Arcadia, Kilkis in Macedonia and Achaia. The assets benefit from existing infrastructure and interconnections. All the wind farms use Vestas Wind Turbine Generators (WTG) and are under Operation & Maintenance contract with Vestas Hellas Wind Technology S.A.R.F. Energy S.A.

The transaction is making Elsewedi Electric one of the top renewable energy operators in Greece, commented President and CEO Ahmed Elsewedy.

Elsewedy Electric has a portfolio incorporating all traditional and renewable energy areas along with related services. It is one of the largest manufacturers of cables and meters worldwide, especially smart meters, according to the press release.

Source: https://balkangreenenergynews.com

MORE:

EPCG to invest EUR 700 million to build new renewables capacities, upgrade other facilities

Author: Vladimir Berbatović Source: Balkan Green Energy News https://balkangreenenergynews.com/epcg-to-invest-eur-700-million-to-build-new-renewables-capacities-upgrade-other-facilities/ State power utility Elektroprivreda Crne Gore (ЕPCG) will invest a total of EUR 700 million to build new renewable energy capacities and upgrade its other power generation facilities to bring them into line with environmental standards, with the aim of reducing dependence on imports due to hydrologic conditions,…


EPS to invest EUR 4.6 billion by 2027, EUR 700 million to go into hydropower, renewables

Author: Vladimir Spasić Source: Balkan Green Energy News https://balkangreenenergynews.com/eps-to-invest-eur-4-6-billion-by-2027-eur-700-million-to-go-into-hydropower-renewables/ Public power utility Elektroprivreda Srbije (EPS) intends to invest EUR 4.6 billion from 2019 to 2027, of which EUR 1.6 billion in the modernization of existing and construction of new thermal power plants (TPPs) as well as environmental protection, EUR 1,3 billion in distribution projects, EUR 1 billion…


Romanian hydropower company spends EUR 80 mln to refurbish 350MW power plant

Romania’s state-owned hydropower company Hidroelectrica will totally refurbish its hydropower plant (CHE) Râu Mare – Retezat under a EUR 80 million project, financed from own funds. The plan’s capacity will increase to 350MW after the process, Economica.net reported. The company wants to make CHE Râu Mare – Retezat the country’s largest supplier of system services,…