EDPR, Ellaktor plan 900-MW wind portfolio development in Greece
Wind turbines in Greece. Author: Giannis Arvanitakis.
Renewable energy company EDP Renovaveis SA (ELI:EDPR) and Greek construction group Ellaktor SA (ATH:ELLAKTOR) have reached an agreement for the joint development of a 900 MW onshore wind portfolio in Greece.
Ellaktor said that the currently developing projects would need more than EUR 1 billion (USD 1.19bn) of joint investment.
The first part of the agreement is more refined and concerns the partners acquiring and jointly developing two projects totalling up to 436.8 MW in the Greek prefecture of Evia.
The projects left for the second stage, which will cover some 460 MW, will be implemented gradually. The companies expect to finalise the agreement for the second stage by early 2021, along with ironing out technical details and signing the final transaction document.
The joint development deal will dramatically boost both parties’ portfolios in Greece. Ellaktor’s total installed capacity sits at 491 MW, while EDPR has 152 MW of wind projects contracted in Greek auctions ready to start operations in 2021 and 2022.
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