Eren, developing 60 MW of projects, set for RES auctions, seeking takeovers

The renewable energy corporate group EREN is developing into one of the local market’s most dynamic players, especially following the Total group’s recent acquisition of a stake in the enterprise.

The group’s intention to increase investment activity in the Greek market, expressed in September when EREN Renewable Energy reached its agreement with Total, is being followed through with action.

According to energypress sources, EREN Renewable Energy, focused on solar and wind energy projects, is currently developing wind energy facilities with a capacity of roughly 60 MW in the Evia and Boetia regions.

The firm is also making plans for new projects of considerable capacity ahead of Greek RES auctions for wind and solar project capacities to be staged by this coming summer.

According to sources, EREN Hellas, the group’s local subsidiary, is also seeking to bolster its Greek portfolio through takeovers. The subsidiary is currently engaged in talks with entrepreneurs holding interests in local wind and solar projects either already operating or at a mature licensing process stage.

EREN Hellas aims to increase its portfolio of operational projects to a level of between 320 and 350 MW, from approximately 200 MW at present.

Founded in 2012, EREN Renewable Energy, the parent company, currently holds a 650-MW portfolio, Greece being a key market. EREN Renewable Energy aims to develop 3 GW of new RES projects over the next five years. The capital available through the partnership with Total constitutes a key part of this growth plan.