Gas company DEPA Commercial, currently placing emphasis on its alternative business interests, is making efforts to bring to maturity solar energy licenses in time for an upcoming RES auction. These PV licenses concern solar farm projects representing a total capacity of 499.61 MW.
Late in January, DEPA Commercial announced it had acquired a 49 percent stake in North Polar, a special purpose vehicle (SPV) established on the basis of a portfolio carrying solar energy project certificates and production permits. These licenses concern projects in northern Greece’s west Macedonia region.
DEPA Commercial and its SPV partner have submitted environmental terms for these projects and are now expecting their connection terms.
The partners are striving to participate in the next RES auction to be staged by RAE, the Regulatory Authority for Energy, the first to be held under new terms expected to soon be approved by the European Commission.
On another front, DEPA Commercial is closely monitoring developments regarding the Alexandroupoli FSRU in northeastern Greece, another of its project interests.
DEPA Commercial holds a 20 percent stake in Gastrade, a company established by the Copelouzos group for the development and operation of the Alexandroupoli FSRU.
The European Commission’s Directorate-General for Competition still needs to approve Greek gas grid operator DESFA’s entry into the consortium, also with a 20 percent stake, to be taken from the Copelouzos group’s current 40 percent share in the Alexandroupoli FSRU venture.
The Brussels authority’s endorsement of DESFA’s entry is seen as a formality following its recent approval of the entry of Bulgaria’s Bulgartransgaz as a fourth member of the consortium, also with a 20 percent stake. Gaslog is the other consortium member, also holding 20 percent.
The DESFA entry approval is anticipated within the second quarter. Gastrade’s partners are then expected to swiftly follow with an investment decision on the Alexandroupoli FSRU’s construction.