The solar energy sector is expected to generate growth for the Mytilineos group’s construction division as soon as 2019, Evangelos Mytilineos, chief executive at the Mytilineos group, noted yesterday during a presentation and analysis of the corporation’s plans.
Mytilineos, whose group is now placing major emphasis on the solar market, essentially offered a description of a forthcoming venture that promises to place a Greek firm at the international forefront of a market offering huge potential.
Collective opinion against climate change will grow immensely and transform into a powerful wave that will prompt political action, the CEO projected.
All forms of renewable energy will constitute the energy of the future, and the present, as the advent of large-scale energy storage technology is just a few decades away, while, until then, natural gas will cover any shortages, Mytilineos pointed out.
The Mytilineos group has forecast its solar-related sales will exceed 400 million euros in 2019. An EBITDA figure of at least 50 million euros is expected from group member, Metka EGN, a leading global EPC contractor for utility-scale solar, energy storage and hybrid power projects.
The Mytilineos group is close to completing negotiations for full ownership of Metka EGN, a company establishing a major international reputation. At present, Metka EGN is preparing to begin work on a project in Mongolia for Total Eren, pursuing a 250-MW project in Australia, as well as projects in Chile, Spain and Kazakhstan.