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HELLENiQ ENERGY acquires 2 operating PV parks entering the Cyprus market

HELLENiQ ENERGY, one of the leading energy groups in South East Europe, acquired two operating photovoltaic parks in the Nicosia province of Cyprus, for a total capacity of 15 megawatts (MW), through its subsidiary HELLENiQ RENEWABLES.

For the construction of the parks, double-sided photovoltaic panels were used, whose annual production of renewable electricity is expected to exceed 27,000 megawatt-hours (MWh).

The acquisition is the first renewable investment outside of Greece, made by HELLENiQ ENERGY which at the same time, marks the beginning of the Group’s activity in the Cyprus electricity market. The acquisition is included in HELLENiQ ENERGY’s Vision 2025 Strategic Planning which aims, among other things, to develop renewable energy sources, but also to enter new markets and products.

“With this investment, we are implementing our commitment to developing a diversified energy portfolio in Cyprus as well, as we announced just a few months ago within the framework of the Group’s energy transition plan presentation,” commented HELLENiQ ENERGY CEO, Andreas Shiamishis. “Being part of the Vision 2025 strategy, this is the first initiative marking our activity in a new energy market. This investment, paired with the establishment of our new electricity supply company in the Cypriot market, enables us to offer integrated energy solutions to our clients and at the same time contribute to the acceleration of the country’s energy transition”.

For HELLENiQ ENERGY and its subsidiary EKO CYPRUS, the dynamic transition to a new era of sustainable development does not stop here. It continues with the rapid implementation of more commitments. More specifically, the energy self-adequacy of the state-of-the-art liquid fuel facility in Vassiliko, the installation of fast chargers for electric vehicles at selected EKO gas stations, as well as further development of the photovoltaic systems in the EKO gas stations network, are already underway, in order to achieve autonomy as well as a total reduction of the greenhouse gases by 1.105 tons/year (fast chargers not included).

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