HELLENiQ Renewables is actively entering the Energy Storage business

All the bids submitted by HELLENiQ Renewables, a subsidiary of HELLENiQ ENERGY, in the first tender held in Greece for the granting of investment and operating aid to Energy Storage System (ESS) projects, were accepted by the Regulatory Authority for Energy, Waste and Water (RAAEY).

The RAAEY positively assessed and included in the list of eligible projects all three (3) ESS projects, with a total capacity of 100 MW and a guaranteed storage capacity of 200 MWh, with which HELLENiQ Renewables participated in the first Competitive Tender Procedure (Public Procurement Notice RAAEY 1/2023).
The HELLENiQ Renewables ESS projects are licensed at locations within the Thessaloniki Industrial Facility of HELLENiQ ENERGY. The largest has a nominal capacity of 50 MW and the other two of 25 MW each. They will be developed using existing infrastructure (roads, fencing, security systems/installations, etc.) and 150 kV high-voltage transmission lines pass through the area.
The stations were assessed by RAAEY as eligible to receive the investment aid of €200,000 per MW and the operating aid, as it is formed by the final approved bids. The ESS are expected to be active in all the individual components of the Greek wholesale electricity market, from which they will derive their revenues. The storage permits shall be valid for 25 years.
HELLENiQ ENERGY's strategy focuses on developing a balanced portfolio between the Group's core activities and development in the field of New Energy, taking advantage of the opportunities offered by the energy transition. Its subsidiary, HELLENiQ Renewables, has become the country's fastest growing company in new renewable energy projects, with an installed capacity of 356 MW and a total portfolio of 4 GW projects in Greece and abroad, in various stages of development.
The successful participation of HELLENiQ Renewables in the RAAEY tender marks its entry into the energy storage business, an activity complementary to Renewable Energy Sources and necessary to increase RES penetration in the electricity production mix. In this context, the company is developing Energy Storage Systems with a total nominal capacity of more than 800 MW throughout Greece.