HELLENiQ ENERGY is making its first RES investment in Cyprus

Acquisition of 2 operating photovoltaic parks, with a total capacity of 15 MW, in Cyprus, constituting the first RES investment outside of Greece
#energytransition #Cyprus #Vision2025 #renewables

HELLENiQ ENERGY announces the acquisition of 2 operating photovoltaic parks in Nicosia province of Cyprus, of 15 MW total capacity, through its subsidiary HELLENiQ RENEWABLES. The agreement was sealed today, following the approval of the competent Cyprus Energy Regulatory Authority (CERA) on May 12, 2023.

For the construction of the parks - located on an area of approximately 300,000 m² - double-sided photovoltaic panels were used, whose annual production of renewable electricity is expected to exceed the 27,000 MWh.

The above acquisition is the first RES 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. 

In his statements, the HELLENiQ ENERGY CEO, Mr. Andreas Shiamishis, pointed out: "With this investment, we are implementing our commitment to develop 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. 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).