10 OctTERNA ENERGY: New Investments € 250 mllion in Greek RES Market
October 10, 2019 at 10:16 am EDT
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PRESS RELEASE
October 10, 2019
TERNA ENERGY: New Investments € 250 mllion in Greek RES Market
Continuing its investment program in Greece, TERNA ENERGY implements new investments of more than € 250 million in the clean energy production sector.
More specifically, in 2019 TERNA ENERGY began its investment of € 150 million in Evoia, with the implementation of nine wind farms with a total capacity of 121 MW. The project is expected to be gradually completed in the first half of 2020.
At the same time, through the recent tenders in RES market, TERNA ENERGY secured additional new projects in Central Greece, where new wind farms with a total capacity of 96.6 MW will be constructed. The total budget exceeds € 104 million. The construction works of the wind farms will begin in the coming months and are expected to be completed between 2021-2022.
Referring to the new investments of TERNA ENERGY in Greece, Mr. George Peristeris, Chairman of TERNA ENERGY, stated: "For more than 20 years we have been systematically investing in the Greek RES market, we are pioneers in the production of clean energy and in the fight against climate change, continuously trying through our investments - despite the problems and huge delays - the fastest and largest possible penetration of RES in the Greek energy market. TERNA ENERGY has long been the largest investor in the Greek RES market and at the same time the largest Greek RES company internationally. Believing in our investment plan and our country's huge prospects of lean energy production, we have decided to make new investments in wind energy production, with a total budget of more than € 250 million. We hope that soon the institutional interventions that are now pending will be finally implemented, in order to be able to make additional investments of €800 million in the field of pumped energy storage, creating at the same time hundrends of new jobs. Investments that are mature and ready for immediate implementation. For decades, we believe and emphasize at every opportunity that Greece can and should be a pioneer in clean energy production, attracting huge investments in RES production, interconnections and storage, through high added value methods, for the benefit of the environment, employment, growth, national energy security and the country's self-sufficiency. "
It is reminded that recently "Gopher Creek" (Fluvanna 2) Wind Farm in Borden County, Texas, commenced commercial operation and all the procedures for the acquisition of "Bearkat" Wind Farm in Glasscock County, Texas were successfully completed, further extending TERNA ENERGY'S total installed capacity in the US to 651 MW.
Overall, the company operates, is constructing or has fully licensed 1,512 MW of RES installations in Europe and the US. The total installed capacity of the Group amounts 1,390 MW, namely 607 MW in Greece, 651 MW in the USA and 132 MW in the Southeast Europe. The company's next goal is to reach 2000 MW of RES projects in operation.
Press Office & Public Relations: Danae Kalantidi, tel + 30 210 69 68 000, pressoffice@gekterna.com
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GEK Terna Holding Real Estate Construction SA published this content on 10 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2019 14:15:04 UTC
GEK TERNA Holdings, Real Estate, Construction S.A. is a holding company organized around 5 areas of activity:
- electricity production (73,1% of net sales): from renewable energies and from natural gas ;
- infrastructure construction (21.3%): power plants, highways, etc.;
- infrastructure management under concession agreements (5.1%): highways, parking lots, etc.;
- production of industrial facilities and construction materials (0.4%): pylons, struts, wood constructions, cements, etc. ;
- real estate development and property management (0.1%).
Net sales are distributed geographically as follows: Greece (93.2%), Balkans (5.3%), Eastern Europe (0.8%) and others (0.7%).
GEK TERNA HOLDINGS, REAL ESTATE, CONSTRUCTION S.A. 
