Mytilineos group sees major global potential in solar market

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.