Domestic investment partnerships between the Copelouzos Group and China Energy Investment for four wind energy parks – in Thrace, Trikorfo (Karystos area, Evia), Mani and Crete – have been included in a catalog of agreements signed by officials yesterday as part of a visit to Greece by China’s President Xi Jinping, heading a Chinese business delegation.
The four wind energy parks are part of a strategic partnership signed in July, 2018 by the Chinese company and the Copelouzos Group for China Energy Investment’s entry, as a shareholder, in the Greek group’s portfolio of wind energy projects, totaling 1,500 MW.
China Energy holds a 75 percent stake in the Thrace wind energy park, already operating. Development of the Copelouzos Group’s three other wind energy projects is expected to gain momentum following the signing of yesterday’s agreements.
Other projects included in the Greek-Chinese catalogue, a list of six projects – energy related and not – include an intention by State Grid Corp of China (SGCC) to build on its 24 percent stake of Greek power grid operator IPTO; a waste incineration project on Rhodes; and expansion work at Piraeus port.
China Energy was established in November, 2017 through a merger between China Guodian Corporation and the Shenhua Group, launching its operations with an equity value of just over 17 billion euros, total assets of 235.6 billion euros, 66 subsidiaries and a workforce numbering 350,000.
The company, heavily dependent on coal but taking major steps in the renewable energy domain, was ranked 101st on the Fortune Global 500 list for 2018.