Listed GEK TERNA construction and energy group has further reinforced its position in the energy market following its acquisition of stakes held by Engie and Qatar Petroleum in the Heron energy group.
As a result, GEK TERNA has now gained control of Heron’s energy production and supply activities.
The group’s objectives for an increased installed capacity in RES and conventional electricity generation promise to make GEK TERNA the country’s second biggest energy group, following PPC, the power utility.
Group member Terna Energy aims to increase its installed RES capacity to 3 GW by 2025, while, during the same period, or possibly one year earlier, the group intends to boost its conventional energy production capacity to 1.5 GW.
Heron is equipped with two gas-fueled power stations offering a total capacity of 600 MW, while the company has also announced it will co-develop an 877-MW power station in Komotini, northern Greece, with Motor Oil.
The GEK Terna group, with its subsidiaries Terna Energy in renewable energy, and Heron, for conventional energy production and supply, has created a 4.5-GW portfolio capable of providing electricity products through decarbonized operations.
The listed group has taken a big step into the new era of energy supply through power and purchase agreements (PPAs) as Heron will be able to offer major-scale energy consumers bilateral supply contracts for green and conventional energy.