DEPA Commercial invites RES companies for collaboration

DEPA Commercial, one of two new entities formed by gas utility DEPA for its upcoming privatization, has invited renewable energy companies with existing production units or advanced projects to express interest in prospective collaborations.

DEPA Commercial is aiming to transform into an energy company with emphasis on green energy activities, chief executive Costas Xifaras has noted.

According to sources, DEPA Commercial is looking to develop a RES portfolio totaling 240 MW.

Related investments at DEPA Commercial are expected to reach 120 million euros, the company head has stated.

DEPA Commercial, interested in both solar and wind energy projects, is looking to acquire RES production licenses and, especially, mature-stage projects, sources informed, adding the company is seriously considering takeovers.

For the time being, DEPA Commercial does not intend to partner with energy groups active in the RES market as well as the company’s privatization procedure.

Besides its plan to expand into the RES market, DEPA Commercial, currently developing major LNG projects, is also exploring the possibility of entering the hydrogen sector.