Protergia ‘here to stay in electricity market after intentional delay’

Energy company Protergia, a member of the Mytilineos corporate group, deliberately delayed its entry into Greece’s retail electricity market as conditions were unclear, but is here to stay now that it has entered the field, Dinos Benroubi, Deputy Managing Director at Protergia, told an an energy conference in Athens today.

Protergia has proceeded with investments worth one billion euros at a time when “most investors are seeking ways to get out of the country,” remarked Benroubi, who delivered a speech at a conference organized by TEE, the Technical Chamber of Greece, titled “Energy Market: Unlocking Greece’s Economic Potential.”

Borrowing from banks remains an extremely thorny isssue, Benroubi noted, while explaining that Protergia’s investment plan was carried out through company capital and shareholder support.

Commenting on the company’s renewable energy (RES) projects, Benroubi noted that Protergia currently operates 68 MW, is constructing facilities for a further 61 MW, and holds licenses for 120 MW of prospective projects awaiting legal clarification concerning the RES sector.

Benroubi announced that Protergia intends to make significant investments for new RES projects in 2017 and 2018.