enel

DEDDIE’s WACC close to 7%, RAE framework approval soon

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Distribution network operator DEDDIE/HEDNO’s new WACC level, determining the yield, required by potential buyers, will be set at just below 7 percent for a four-year period covering 2021 to 2024, energypress sources have informed.

This WACC level, well over rates of no more than 2.5 percent offered by respective European operators, is expected to be seen as a very attractive offer by investors.

RAE, the Regulatory Authority for Energy, has been given the green light by the energy ministry to hasten proceedings for a launch of the DEDDIE/HEDNO privatization, offering a 49 percent stake, in November, as promised by the ministry.

DEDDIE/HEDNO has awaited RAE’s approval of its new regulatory framework, including the WACC level, to launch the tender. This framework will include an option for a four-year extension, covering 2025 to 2028.

If the privatization is launched next month, it could be completed within the first quarter of 2021.

Market officials have forecast a DEDDIE/HEDNO selling price of close to 1.5 billion euros for the 49 percent stake.

The operator’s assets, essentially comprising networks totaling 239,000 kilometers in length, plus substations, are estimated to be worth 3.5 billion euros.

The DEDDIE/HEDNO business plan for 2021 to 2024, still subject to official approval, should excite investors. It features investments worth 2 billion euros and network 5G add-on potential for a wide range of telephony and internet services.

The prospective installation of 7.5 million digital power meters in place of conventional meters around the country, an upgrade budgeted at 850 million euros, is another strong selling point. Recovery funds will be sought for this project, energy minister Costis Hatzidakis recently informed. This would save the operator a considerable amount.

Germany’s EON, Italy’s Enel, Enedis, a subsidiary of France’s EDF, as well as a number of Chinese companies had showed interest, unofficially, in the DEDDIE/HEDNO sale well before the pandemic broke out.

 

 

Enel’s Francesco Starace named chief at SEforALL, supporting SDG7

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Sustainable Energy for All (SEforALL), a non-profit international organization that works closely with the United Nations to accelerate and deliver at scale the solutions needed to achieve Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable and modern energy for all – by 2030, has appointed Francesco Starace, Chief Executive Officer and General Manager of Enel S.p.A., as Chair of the SEforALL Administrative Board, SEforALL has announced in a statement.

With less than 10 years to meet SDG7, and with increasing urgency for the world to get on track to meet the Paris Agreement climate goals, SEforALL’s role in driving a global clean energy transition has never been more important, Starace, who has been CEO and General Manager of Enel, one of the largest utilities in Europe, since May 2014, begins in the role with immediate effect.

Speaking on the announcement, Elizabeth Cousens, Vice-Chair of the SEforALL Administrative Board, and President and Chief Executive Officer of the UN Foundation, noted: “Francesco is a visionary energy leader with a long track record in driving business ambition around climate action, sustainability, and energy access for hundreds of millions of  people around the world who lack it. He is a natural choice for this important role at such a critical moment. With SEforALL’s unique mandate from the UN to drive SDG7 action in line with the Paris Agreement, his leadership can help support the organization go even further and faster to achieve our goal of universal energy access.”

As Chair of the Administrative Board – the principal governing body of the organization – Mr. Starace will help shape strategy and operations for the organization at the highest levels. Mr. Starace currently also serves as a member of the UN Global Compact Board of Directors and the Global Commission to End Energy Poverty. He previously served as a member of the former SEforALL Advisory Board and President of EurElectric, the European association for the electricity industry.

“Energy must be at the heart of the global agenda to lead the world on a more sustainable pathway, focusing multi-stakeholder action especially on renewables and energy efficiency, which are key for delivering on the goals of energy access and climate mitigation. I am very proud to join SEforALL and to support its efforts for the clean energy transition and to work together toward achievement of SDG 7,” noted Starace. “My main objective as Chair of the SEforALL Administrative Board will be to cooperate with leading actors to accelerate the critical shift to a more sustainable, modern and accessible energy for all. I have great confidence in SEforALL leadership and its unique strengths to tackle the complexity of the energy challenges and to support ensuring the fundamental right to electricity for everyone, globally.”

The announcement comes after SEforALL recently released a new three-year business plan to help drive scaled action towards sustainable energy for development and energy transitions. The ambitious plan recognizes the need to strengthen global advocacy while expanding activities that prioritize data-driven decision-making, strategic partnerships and country-specific implementation.

Welcoming his appointment, Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, said: “With ambitious action we can still achieve SDG7 by 2030, but the next few years are critical to increase energy access – especially in the wake of the COVID-19 pandemic. SEforALL’s leadership is pivotal to deliver this vision and why I’m delighted to welcome Francesco Starace as our new Chair of the Administrative Board. Francesco brings incredible experience that can help SEforALL deliver an energy transition that is truly inclusive, equitable and leaves no one behind.”

Cross-industry climate change effort emphasized by CEO Alliance

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The CEO of multinational power company Enel, Francesco Starace,  and chief executives from eleven European companies, have joined forces for a zero-carbon future and a more resilient Europe, Enel has announced in a statement.

The European Union is committed to net zero emissions by 2050, which is in line with the CEO Alliance companies’ own decarbonization strategies, the statement noted.

All members support the Paris 2050 goals, the EU Green Deal and the ambition to raise EU climate targets. They represent different industries, generate a combined 600 billion euros in annual revenues and employ 1.7 million people. The CEO Alliance channels their decarbonization efforts: it connects sectors and strategies, identifies potential for collaboration, and fosters projects and investments for a sustainable economy and society.

At its inaugural meeting in Stuttgart, the cross-industry alliance underscored: “The climate targets of the European Union are feasible. Our industries do not block, but rather foster the shift toward a carbon-neutral economy. We see growth potential for all industries in the long run. If we manage this historic transformation successfully, sustainable development and new future-proof jobs will be the result. Together, we will support all efforts to reach a social consensus for more sustainability.”

With yesterday’s start, the CEO Alliance becomes an association of action that unites corporate strategies, industries and societies on the road to a carbon-neutral Europe.

All members believe the new climate targets of the European Commission, envisaging emission reductions of 55% by 2030, are manageable.

On the industry side, the CEO Alliance members have already pledged to invest more than 100 billion euros in their respective decarbonization roadmaps over the next years to help reach these targets.

Every member has defined its own strategy to address decarbonization, by reducing carbon emissions across the relevant value chains and by offering sustainable products and services to customers. For reaching the respective CO2 targets, each member and each sector is dependent on other members and sectors, which especially calls for cross-sector activities.

Collaboration potential of the Alliance was identified in six fields: in energy systems, renewable power generation must be scaled up rapidly and power grids must be modernized. In terms of mobility and transport, the EV charging infrastructure must be expanded and the low-carbon transport or shipping of goods intensified. Zero-impact production – in particular for renewable power generation components – and sustainable battery production are key aspects in manufacturing and industrial processes. In terms of buildings and urban environments, the focus is on zero-emission offices and sustainable green city planning. In regard to new business models, the focus is on carbon tracking with digital technologies in the supply chain. The field of sustainable finance will also offer new opportunities.

The members also agree that the transformation towards a net-zero carbon future needs to be based on a broad public consensus. The CEO Alliance is willing to contribute to this consensus, and to establish a social contract, by intensifying the dialogue between stakeholders from the private sector, public sector and civil society. At the same time, the members call on political leaders to create the necessary political support and incentives. At the inaugural meeting, the dialogue started with a discussion with Frans Timmermans, Executive Vice President of the European Commission.

The CEO Alliance is convinced that ambitious decarbonization and cross-sector collaboration require ambitious and cross-sector policy frameworks, for example carbon pricing with a minimum floor price in the EU Emissions Trading System, a reform of the energy taxation system, and driving demand for sustainable, innovative and digital solutions, among other things by using renewal schemes, public procurement and investments.

The CEO Alliance represents members from key industry sectors: ABB, AkzoNobel, Eon, Enel, Iberdrola, A.P. Møller Maersk, Philips, SAP, Scania, Schneider Electric, Siemens and Volkswagen.

Following an initial joint letter to the European Commission in June 2020, the first face-to-face meeting underscored the commitment to act fast and to recognize the urgency of the necessary transformation for future competitiveness.

Enel reconfirmed as a Global Compact LEAD company for 10th year in a row

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Enel has been reconfirmed as a Global Compact LEAD company, a recognition the Group has held since 2011, recognition acknowledging companies with the highest engagement towards the United Nations Global Compact (UNGC) initiatives, as well as those which are profoundly committed in implementing the Global Compact’s Ten Principles and the Sustainable Development Goals (SDGs) in their business activities.

The 2020 announcement of the Global Compact LEAD companies took place leading up to the #UnitingBusiness LIVE event, held between September 21st and 23rd, 2020.

The virtual event, which is taking place during the 75th session of the UN General Assembly, brings together business leaders, Governments, and civil society leaders to underscore their commitment to the UN’s objectives. This year’s UN General Assembly will focus on the need for renewed global cooperation and the economic recovery from Covid-19.

“Our active participation within the UN Global Compact was recognized once again with our inclusion, for the 10th year in a row, among the Global Compact LEAD companies. Enel continues, in line with the commitment the Group made five years ago at the 2015 United Nations Sustainable Development Summit, to tirelessly work in pursuit of the SDGs, while adhering to the UN Global Compact’s 10 principles,” said Francesco Starace, Enel CEO and General Manager. “The 2020 edition marks the 5th year since the UN’s adoption of the 2030 Agenda for sustainable development and the 17 SDGs, and this year kicks off the “Decade of Action” towards the achievement of the SDGs by 2030. The Sustainable Development Goals are specifically embedded within Enel’s strategy as key drivers of business growth, and guide our decision-making process towards action against climate change, as well as ensuring the supply of affordable, clean energy.”

The Enel Group is an active participant in four of the seven UN Global Compact’s Action Platforms. The Platforms bring together representatives from business, Global Compact Local Networks, academia, civil society, Government and the United Nations, to collect knowledge and experiences in order to find solutions to global complex and interconnected issues. Namely, Enel is participating in: the CFO Taskforce for the SDGs where it is patron and the Group’s CFO is co-chair; Business Ambition for Climate and Health; Reporting on the SDGs; Peace Justice and Strong Institutions-SDG16, for which Enel’s CEO signed the ‘Statement  from Business Leaders for Renewed Global Cooperation’, launched today during the Private Sector Forum.

As the only Italian company to participate in the three-day program, Enel’s CEO Mr. Francesco Starace will speak today, within the framework of the Global Impact Forum, in the Accelerating Global Climate Action for a 1.5°C Future to Recover Better Together event, as well as tomorrow on Catalysing Finance and Investment for the Achievement of SDG7 session, during the SDG Business Forum. Enel’s CFO, Mr. Alberto De Paoli,  participated on September 21st as a speaker at the Global Launch of the CFO Principles on Integrated SDG Investments and Finance, within the framework of the Private Sector Forum.

Enel also celebrates the fifth anniversary from the Group’s first public commitment to the SDGs at the United Nations Sustainable Development Summit in 2015. Over 90% of the Enel Group’s overall 28.7 billion euro investment in the 2020-2022 period directly address four SDGs: SDG 7 (Affordable and clean energy), SDG 9 (Industry, innovation and infrastructure), SDG 11 (Sustainable cities and communities), all contributing to SDG 13 (Climate Action), placing the fight against climate change at the center of the Group’s strategy. Enel is also committed to promoting Social and economic development (SDG 8), while supporting Quality education(SDG 4).

Enel also contributes to all the other SDGs by promoting a sustainable business model, pursuing sustainable behaviors and leveraging on SDG 17 to foster global partnerships to tackle the multiple challenges that the world is facing.

 

 

DEDDIE sale a government priority, major players interested

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Major European players with network management experience are believed to be interested in acquiring a majority stake of electricity distribution network operator DEDDIE/HEDNO.

Both the government and state-controlled power utility PPC, the operator’s parent company, have received calls of interest, still at an unofficial level, from a number of big firms ahead of the forthcoming privatization.

Interested parties are believed to include E.ON, operating regional networks in Germany, as well as Italy’s ENEL.

DEDDIE/HEDNO is at the top of the government’s privatization list, according to sources. A final decision to offer a stake of 51 percent, including managerial rights, has been taken, the sources added.

The sale is expected to lead to the digitization of the country’s network. This much-needed upgrade project, to feature the installation of smart meters and modernization of mid and low-voltage lines, will contribute to the EU’s network unification plan.

Also, the sale of a majority stake in the Greek electricity distribution network will rake in considerable funds for PPC. The operator’s estimated value is 3 billion euros.

The sale’s procedure is expected to begin early in 2020 with the aim of completing its tender by the end of June.

 

PPC in talks with over 10 local, foreign firms for RES ventures

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Power utility PPC is considering renewable energy joint venture proposals by over ten companies, domestic and foreign.

The pool of firms interested in doing business with PPC includes Germany’s RWE, Italian companies such as Enel, French enterprises associated with the Greek power utility in the past, among them EDF, scores of Chinese companies, as was confirmed at a Shanghai forum early November, as well as numerous Greek companies.

PPC’s involvement in RES joint ventures will have an important place in the power utility’s new business plan, to be announced within the next 10 to 15 days, energy minister Costis Hatzidakis told a National Energy and Climate Plan (NECP) event yesterday.

The forthcoming business plan will officially signal the Greek power utility’s turn to the renewable energy sector, listing specific objectives.

Any partnership announcements should not be expected before the business plan’s presentation.

Plans for a PPC bond issue to finance the company’s expansion into the renewable energy sector are also in the making.

PPC’s favorable corporate image in Greece’s provincial areas, where renewable energy investments will be made, is a key factor drawing both local and foreign RES players towards prospective partnerships with the Greek power utility.

 

Former Enel CEO in Romania named PPC’s new boss

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Giorgos Stassis, an experienced manager with a formidable multinational energy-sector background, has been named the power utility PPC’s new chief executive.

Stassis, who previously headed the Enel corporate group’s Romanian subsidiary, Romania’s biggest energy company, will succeed Manolis Panagiotakis, who resigned from PPC’s top position soon after the conservative New Democracy party’s election victory on July 7.

The newly named PPC head hails from the energy sector, is backed by a multinational-level career, possesses experience in energy-enterprise restructuring, is young, Greek and returning from abroad to help the government’s effort, energy ministry officials noted.

Greece’s EESYP privatization superfund, holding the Greek State’s 51 percent stake of PPC, named Stassis for the power utility’s top post in a proposal forwarded to PPC’s board.

Stassis served as CEO at Enel Romania SrL from 2016. Previously, Stassis headed Enel Green Power in southeast Europe and the Middle East, beginning in 2007.

Stassis, who possesses over 13 years of experience in the energy market, has also held a series of other significant posts in the sector.

Between 2001 and 2006, Stassis was employed at Tellas Telecommunications SA as a member of the company’s administrative team and Executive Director of Strategic Projects and Procurement.

He studied Civil Engineering at Kingston University in the UK and holds an MBA in Construction Management.

The Enel corporate group is a multinational energy company and a leading player in global electricity, natural gas and renewable energy markets. It maintains interests in over 30 countries worldwide and holds a portfolio with a production capacity of approximately 89 GW.

 

Major 154-MW renewable energy project on Evia nearing launch

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One of Greece’s biggest renewable energy projects, a 154-MW complex comprising seven wind energy parks in the Kafireas area of the island Evia, slightly northeast of Athens, is approaching its launch.

Test runs are expected to be staged in September while the facility should be ready to operate commercially by the end of the year, sources informed.

The project, developed by the Greek subsidiary of Italy’s Enel, will make the company one of Greece’s biggest RES firms, highlighting its determination for a strong Greek market presence.

The company’s Greek portfolio will grow to a total capacity of 461 MW – solar, wind and hydropower units – once the Evia project is launched.

The company has had to endure a long adventure for this RES project to reach the final stretch. Greek authorities first issued a project license to the Enel subsidiary back in 2003 but the company needed to persevere a further 12 years of bureaucracy to secure further approvals and additional permits before it could begin construction.

The Enel subsidiary ended up starting the project’s construction in June, 2017. However, heated reaction by local residents and subsequent legal cases filed by them to the Council of State, Greece’s Supreme Administrative Court, prompted further delays.

The legal action was rejected in January, 2018, enabling the project’s completion.

The need to simplify local RES licensing procedures has once again emerged of late.

Germany’s DWH, spurred by PV potential, joins local Maximus Terra

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Germany’s DWH (Deutsche Werte Holding AG), driven by favorable prospects seen in Greece’s solar energy sector, has joined Greek holding company Maximus Terra, involved in various local RES sector projects – solar, wind, biomass and biogas energy – since 2010.

During these years, Maximus Terra has collaborated with major groups such as Italy’s Enel, as well as Libra Group, headquartered in the USA.

DWH was drawn to the Greek market by solar energy projects with a total capacity of 200 MW currently being developed. The German company plans to co-finance these.

DWH is interested in license trading as well as project development. It estimates that a 25-MW station has the potential to generate revenues, from electricity sales, of up to two million euros per year.

Depending on the strategy it chooses to follow, the German company is anticipating short-term profit from license trading activity or annual profits of roughly 17 million euros through the development of photovoltaic systems.

Upcoming mixed RES auction applications submitted today

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Procedures leading to the country’s first mixed RES auction, to place the sector’s main players, wind and solar energy investors, in the same bidding arena with equal terms for intensified competition, begin today with the submission of online applications.

These will be followed by the submission of dossiers containing all required documents ahead of the auction, expected on April 15, according to an announcement made by RAE, the Regulatory Authority for Energy.

A total of 600 MW will be offered to auction participants. Amounts requested in applications will need to exceed this 600-MW total by 40 percent if the entire amount is to be offered at the upcoming auction.

Terna Energy, Mytilineos, PPC, the Panagakos group, as well as major foreign players such as Total Eren, Juwi, EDF and ENEL are among the firms likely to participate.

Mixed RES auctions have become standard practice in other European markets, the objective being to secure optimal solutions for coverage of energy needs at the lowest possible cost.

 

Enel reaffirmed among world’s most sustainable firms by FTSE4Good Index

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Enel has been reaffirmed among world’s most sustainable companies in FTSE4Good Index Series, which ranks the top global companies by evaluating their environmental, social and governance (ESG) practices, following the index’s review of the second half of 2018, the corporate group announced in a statement.

The corporate group’s subsidiaries Endesa, Enel Américas and Enel Chile were also reconfirmed in the latest ranking.

Enel maintained the highest score in the criteria regarding waste management, biodiversity conservation, health and safety, labor standards, risk management, corporate governance and anti-corruption, the company noted.

Developed by FTSE Russell, a leading global provider of benchmarks, analytics, and data solutions with multi-asset capabilities, the FTSE4Good Index evaluates the performance of companies on the basis of their commitment to embedding sustainable ESG practices into their business management.

The FTSE Russell methodology is solely based on publicly available data, requiring high transparency from companies, therefore the confirmation of Enel in the index underscores the strong commitment of the group in promoting accountability and transparency.

In addition to this ranking, the Enel Group is listed in other leading sustainability indices, such as the Dow Jones Sustainability Index, the Euronext Vigeo-Eiris Indices, the STOXX Global ESG Leaders indices, the Carbon Disclosure Leadership Index, the OEKOM “Prime” rating, the ECPI indices, the Thomson Reuters/S-Network ESG Best Practices Indices, the Thomson Reuters Diversity & Inclusion Index, the Integrated Governance Index and Equileap’s Top 200 ranking on gender equality, it noted.

Enel’s sustainability leadership is increasingly drawing the interest of ESG investors, whose stake in the company is steadily growing, representing over 8.6% of the group’s share capital as of December 31st, 2017, with an increase of 46% compared to 2014, the group stated.

Enel’s comprehensive sustainability strategy, demonstrated by its inclusion in these rankings, is further detailed in its position paper titled “Cities of tomorrow. Circular cities” released in November 2018, it informed. The paper lays out Enel’s position on the essential role that cities will play in promoting sustainable development and the innovative solutions that the company is currently offering, the statement explained.

Enel Green Power awards Survey Digital maintenance contract

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Italy’s Enel Green Power has once again awarded Survey Digital a maintenance and support contract for its 27.7 MW portfolio of installed Satcon inverters at the Altomonte, Nola, Deruta and Strambino locations, following a tender.

Survey Digital operates as licensed representative of Satcon, an exclusive supplier of parts, and non-exclusive associate for provision of services in Europe.

Survey Digital has offered Enel Green Power these services since 2012 and has now secured at least a further three years.

https://www.survey-digital.com/?lang=el

 

Enel ranked among country’s most sustainable firms in 2017

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Enel Green Power Hellas, Enel’s Greek renewables subsidiary, was ranked among the 21 companies recognised in the first edition of the Quality Net Foundation’s Sustainability Performance Directory in the Greek Market, out of the 54 companies that applied for the ranking, the company has announced in a statement.

The Directory evaluates how sustainably the companies approach the programs, processes and policies that they implement, and how sustainable development fits within their corporate strategy. The Quality Net Foundation developed the 2017 edition of the Directory within the framework of its “Sustainable Greece 2020” Initiative.

Sustainable Greece 2020 aims to further encourage businesses to adopt and record sustainable policies and practices as well as enhance transparency, self-assessment and accountability.

“We at Enel Green Power Hellas integrate sustainability into all aspects of our business, constantly seeking out new solutions to further improve our environmental and social footprint. With the active involvement of stakeholders and rational use of resources, economic and social progress can bring about truly shared value for all those involved. Enel Green Power Hellas contributes to the socio-economic development of local areas and communities where it operates, through a number of practices, from the expansion of infrastructure to educational and training programs, and initiatives aimed at social inclusion in projects that support cultural life in the regions,” said George Papadimitriou, Head of Enel Green Power Hellas.

The Quality Net Foundation is a non-profit network of responsible organizations and active citizens, operating as a multi-stakeholder interactive platform that promotes social responsibility in the private and public sector as well as the wider civil society with a view to bring about sustainable development and social cohesion. The Foundation researches social and business trends, tracks social needs at the national level, builds partnerships with institutional and scientific bodies, and also supports organisations that embody social responsibility.

Enel Green Power Hellas is the Enel Group’s company dedicated to the development and management of power generation from renewable sources in Greece. In the country, the Enel Group has a total renewables capacity of approximately 307 MW.

Enel Green Power, the renewable energies division of the Enel Group, is dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania.

Enel Green Power is a global leader in the green energy sector with an installed capacity of 36 GW across a generation mix that includes wind, solar, geothermal, biomass and hydropower, and is at the forefront of integrating innovative technologies, such as energy storage systems, in renewable energy plants.

 

 

 

Enel wind farm project strained by court’s temporary suspension

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A ruling in a legal case filed by residents of Evia, the country’s second largest island, slighly northeast of wider Athens, and a local environmental protection group, challenging the development of an Enel wind farm investment budgeted at 300 milion euros, is expected to be delivered in no less than two months, possibly even early next year, which places great scheduling pressure on the investment plan.

Ratified RES framework revisions led to an extension of the project’s completion deadline to March, 2019, if the investor is to maintain a fixed feed in tariff already secured.

All work at the Evia wind farm site was interrupted on August 11, based on a Supreme Administrative Court decision that called for an immediate temporary suspension.

The trial was heard earlier this week at the Council of State, Greece’s Supreme Administrative Court. Both sides were given until October 18 to submit a final round of evidence in support of their arguments.

The temporary suspension of work at the Evia site led to the cancellation of an official project ceremony that was to be attended by Italian Prime Minister Paolo Gentiloni as part of his recent official visit to Greece.

Enel’s Evia wind farm case highlights investment hurdles

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A legal case challenging renewable energy facility licenses issued by Greek authorities to Italy’s Enel for the development of what would be Greece’s biggest wind farm, in Evia, the country’s second largest island, slighly northeast of wider Athens, is now underway, once again bringing to the fore the obstacles and delays faced by major investments, especially ones concerning wind energy farm development.

The case was filed at the Council of State, Greece’s Supreme Administrative Court, by three island residents representing a local environmental protection group. Construction of the Evia project, an investment worth 300 million euros, began last summer, on June 28, but was interrupted on August 11, when the Supreme Administrative Court issued a ruling calling for the immediate temporary suspension of all work on the project.

It is fully licensed, having obtained permits from various local authorities, including town planning, environmental and archaeological.

This court decision prompted the cancellation of an official ceremony in Evia, intended to mark the commencement of work. The ceremony was to be attended by the Greek and Italian prime ministers, as part of the Italian leader Paolo Gentiloni’s recent visit to Greece.

The Evia project, being developed by Enel’s Greek subsidiary, Enel Green Power Hellas, in Kafirea, southern Evia, is scheduled to be completed in the first half of 2019. If finalized, it will represent Greece’s biggest wind farm possessing an annual production capacity of 483 GWh, cover the electricity needs of 129,000 households, and cut CO2 emissions by 433,000 tons per year.

The project plan entails linking the wind farm with a 150 kV submarine cable to transmit energy to the mainland.

 

 

 

 

Investors spooked by court block on Enel’s Evia wind farm

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Wind energy players in Greece are deeply troubled by a temporary court order blocking the development of a major wind farm project being developed by Italy’s Enel in south Evia’s Kafirea region.

The company, itself, remained restrained in its reaction to the decision, issued by the Council of State, Greece’s Supreme Administrative Court, noting that its acknowledges the ruling and will fully comply with its demands, while adding that it has fulfilled all licensing regulations and submitted to the court all documents required for the project’s recommencement.

Competitor RES firms were less subdued in their responses. “This is a negative message that does not at all contribute to the generation of a positive investment climate at a time when the country is seeking to become attractive to investors again,” one company official told energypress.

A final court verdict is expected in October. The project must remain stagant until then. Enel needed to clear a bureaucratic course requiring the approval of no less than 25 public sector agencies before gaining its environmental license for the project.

Enel, one of the world’s biggest renewable energy players operating locally through its Greek subsidiary Enel Green Power Hellas, has called for a special hearing in September, which could enable work on the investment in Evia, an island slightly northeast of the wider Athens area, to recommence sooner.

The court’s block was prompted after a local environmental protection group and three residents of Evia’s Karystos area legally challenged a series of 27 ministerial decisions made by the energy ministry to endorse the project’s development.

The plaintiffs argue that the project’s eight wind farms planned for development will be installed at forest land inducted into Natura 2000, a network of environmentally protected natural areas in the EU.

Enel’s Evia investment in Kafirea ranks as one of the biggest foreign investments to be made in Greece over the past few years. The project, initiated last June, is worth 300 million euros and planned to have a total capacity of 167 MW.

 

 

Enel begins construction of Greece’s largest wind farm

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Enel, through its Greek renewables subsidiary Enel Green Power Hellas S.A. (“EGPH”), has begun construction of the Kafireas wind power complex located on the southern part of the island Evia island, slightly northeast of the wider Athens area, in the municipality of Karistos, the company announced in a statement released today.

Once completed, the new facility will have a total installed capacity of 154 MW and rank as the country’s largest wind farm.

“The start of construction of Kafireas marks a new step for Enel’s presence in Greece, where we possess a decade-long experience in the renewables sector”, said Antonio Cammisecra, Head of Enel Green Power. “With this new facility we are not only committed to providing green and sustainable energy to the country, but also promoting the social and economic development of local communities by adopting the shared value approach for the construction and operation of this wind complex,” he added. 

Enel will invest approximately 300 million euros in the construction of Kafireas, which is expected to begin operating in the first quarter of 2019 and be supported by a 20-year power purchase agreement (PPA) with LAGIE, Greece’s Electricity Market Operator.

Kafireas, which will feature a high voltage (150kV) interconnection line to the mainland comprising overhead, submarine and underground cables, will be able to generate approximately 483 GWh per year, equivalent to the annual energy consumption needs of around 129,000 Greek households, while avoiding the emission of nearly 433,000 tons of CO2 each year.

EGPH already operates two wind farms in the municipality of Karistos, the 7.5 MW Iliolousti I and the 9 MW Iliolousti II. The company is a leading owner and operator of renewable energy plants in Greece with 308 MW of installed capacity from wind, hydro and solar power.

Enel Green Power, the Renewable Energies division of Enel Group, is dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power is a global leader in the green energy sector with a managed capacity of 38 GW across a generation mix that includes wind, solar, geothermal, biomass and hydropower, and is at the forefront of integrating innovative technologies like storage systems into renewables power plants.

 

 

Italian minister’s refugee crisis visit to include energy matters

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Italian foreign minister Paolo Gentiloni’s emergency visit to Athens today, prompted by the refugee crisis, will also include energy matters on its agenda.

A series of meetings scheduled during Gentiloni’s whirlwind visit to the Greek capital include one with energy minister Panos Skourletis. The Italian minister will be accompanied by four Italian energy company executives who intend to remind Skourletis of their interest in doing business in Greece.

According to sources, an official representing Terna will point out that the company remains interested in buying a stake of IPTO, the power grid operator, regardless of whether this is a 20 percent stake the government plans to offer to a strategic investor or a 66 percent share if the Greek government’s proposal is not approved by the country’s lenders. Many officials believe rejection of the government’s IPTO plan cannot be ruled out.

An Edison official is expected to remind of the company’s interest for stakes in units owned by PPC, the main power utility. The company favorably views PPC chief executive Manolis Panagiotakis’s intention to establish partnerships with other European companies for PPC-related projects. However, the Edison official is expected to underline that hydropower plants will need to be included in the overall package.

An Eni representative will raise a compensation issue concerning the premature end of the company’s regional natural gas market monopolies in Thessaloniki and Thessalia, prompted by bailout-related gas market reforms. Eni holds 49% stakes in the Thessalia and Thessaloniki EPA gas supply companies. DEPA, the Public Gas Corporation, holds majority 51 percent stakes in both.

An Enel official is expected to point out the company’s interest to increase its presence in Greece’s wind energy market.

Though no officials representing Snam have joined the Italian delegation, Gentiloni, Italy’s foreign minister, will highlight to Skourletis the Italian company’s interest in acquiring a 17 percent equity share of DESFA, the gas grid operator. Azeri energy company Socar, the winning bidder of an international tender offering 66 percent of DESFA, needs to surrender 17 percent following European Commision intervention.