Fast-growing EREN, scanning local market, to set up Athens base

The recently founded yet fast-growing and globally active renewable energy sources (RES) corporate group EREN, one of few enterprises that has proceeded with new investments in Greece’s RES market over the past couple of years, is awaiting the developments in the country’s overall business climate and regulatory legal framework, as well as progress in the development of networks, before deciding on whether to pursue further investments here.

According to energypress sources, the company head, Greek-French entrepreneur Paris Mouratoglou, is keeping a close watch on the developments in Greece’s energy market. A recent decision by Mouratoglou to set up a new office at company-owned property in the Greek capital’s Acropolis district highlights EREN’s interest in the Greek market.

For the time being, EREN is developing two wind-energy farms, with a capacity of 82 MW, purchased from the company Gamesa, while the development of an additional 40-MW capacity wind-farm facility in the Boetia region, northwest of Athens, has been planned. These new projects are expected to begin operating at the end of 2015. In Greece, the company already operates RES units – wind farms and photovoltaics – with a total capacity of 70 MW.

Mouratoglou launched EREN after departing from the EDF group, a leading energy player, in 2011, where he was a partner at its RES subsidiary. Over the relatively short time span that has ensued, his EREN company has been extremely active globally, acquiring existing operations, and launching new units of its own.

The corporate group’s portfolio is comprised of three French firms, Osmos, focused on structural safety of various building projects; Orege, active in biological treatment of waste; and Voltalis, specializing in electricity-saving systems for buildings; as well as Swiss firm Fafco, whose domain is energy-efficient refrigeration systems.