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Venture of Russian businesswoman to spend EUR 20m on Greek solar project

Solar modules. Featured Image: Jackiso/Shutterstock.com

November 30 (SeeNews) - Inteco Beteiligungs GmbH, an Austrian firm owned by Russian businesswoman Yelena Baturina, plans to invest roughly EUR 20 million (USD 21.3m) in a Greek solar project that was acquired in October.

Baturina's structures will invest this sum in the coming year, according to a statement from her press office. The project is located near the city of Farsala.

Upon completion, the particular solar park would be generating an estimated EUR 500,000 per year and, at the same time, helping avoid the emission of 800 tonnes of carbon dioxide (CO2) into the atmosphere.

Before this latest acquisition in Greece, Inteco also bought a solar farm in Italy. The press statement says that it is currently considering further purchases in Greece and Cyprus.

(EUR 1.0 = USD 1.065)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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