ELPE, renamed HELLENiQ ENERGY, looks to triple RES capacity in 1 ½ yrs

The chief executive of Hellenic Petroleum (ELPE), which has taken on a new name, HELLENiQ ENERGY, unveiled at a company event in Athens yesterday, took the opportunity to underline the enterprise’s interest in the renewable energy market and RES takeovers abroad, the objective being to triple its green portfolio in 18 months.

HELLENiQ ENERGY’s chief executive, Andreas Siamisiis, informed that the company is currently progressing with two RES company takeovers in foreign markets, without specifying in which countries.

According to sources, one of these two HELLENiQ ENERGY takeovers is in Italy, while the other is in one of Greece’s neighbors along the northern border.

The HELLENiQ ENERGY head told the company event that the Greek market is too small for RES takeovers, adding deals abroad serve the group’s interest to expand.

HELLENiQ ENERGY’s current portfolio of operating RES facilities is at 340 MW, which the company aims to increase to 1 GW within the next year and a half. Its RES portfolio, overall, totals 2 GW.