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Greece expands its wind portfolio

The renewable energy platform of Quantum Energy Partners, 547 Energy, has been awarded a 20-year power purchase agreement by Greece’s Regulatory Authority for Energy (RAE) for a 153 megawatt (MW) wind energy project. The project is located in the Regional Units of Imathia and Kozani, and brings to five the total number of wind energy projects jointly awarded to 547 Energy and its Greek partner ENORA, totalling 288 MW.

“Our continued success with ENORA in Greece’s latest technology-neutral auction demonstrates how quickly we have built our new renewable energy platform into a market leader,” said Gabriel Alonso, CEO and President of 547 Energy, while also commending the Minister of Energy for administering a highly successful auction despite the unprecedented challenges arising from recent global events.

“We are pleased that our projects were the only wind projects submitted to the Common Competitive auction and that we won despite significant competition from solar,” remarked Panagiotis Papastamatiou, Development Director of ENTEKA, ENORA’s parent company. “We look forward to utilising our extensive development, construction, and operations experience to bring the largest wind farm in Greece to fruition. Greece is making great progress in renewables. 2019 was a record year for wind energy project growth and this momentum has continued into 2020. Our joint venture with 547 Energy will continue to support Greece in achieving its 2030 renewable energy goals.”

Last December, the Greek government approved the National Energy and Climate Plan which envisaged to reduce greenhouse gas (GHG) emissions by more than 42 per cent compared to emissions in 1990 and more than 56 per cent compared to emissions in 2005, thus exceeding even the core EU targets. With regard to renewable energy sources, Greece set itself a much higher objective with a minimum share in gross final energy consumption of 35 per cent.

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