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GEK TERNA HOLDINGS, REAL ESTATE, CONSTRUCTION S.A.

(GEKTERNA)
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GEK TERNA SA: Agreement for the acquisition of 100% of the shares of HERON Group

07/12/2021 | 02:38am EDT

GEK TERNA reached an agreement with ENGIE and Qatar Petroleum for the acquisition of 100% of the shares of HERON Group (HERON ENERGY SA & HERON II VIOTIA SA).

The finalization of the agreement is subject to the approval of the competent authorities.

HERON SA was founded by GEK TERNA 20 years ago and was the first private company to invest in and operate a gas-fired power plant (ΗΕRON I) in Greece, in 2004. Today, it owns two gas-fired power plants in the area of Viotia (HERON I and HERON II), whose total capacity is approximately 600 MW. It is worth noting that GEK TERNA participates in the development of another gas-fired plant in Komotini, with a capacity of 877 MW, thus forming a portfolio of gas-fired units with a total power of 1.5 GW.

HERON Group is also one of the leading providers of electricity and gas, with more than 270,000 customers (households and businesses) throughout Greece.

Contributing dynamically to the promotion of green energy and to the effort to achieve the goals set at European and national level to deal with the climate crisis, HERON has a number of green and e-mobility programs in the Greek market, such as EcoUP and EcoDrive. Through them, households, businesses and owners of electric cars are given the opportunity to consume electricity, which is produced 100% from Renewable Energy Sources (RES). Moreover, given that GEK TERNA Group is the main shareholder of TERNA ENERGY, the largest Greek company in the field of clean energy production and storage, HERON and TERNA ENERGY are already collaborating to offer customers of HERON Group new innovative products based solely on clean energy produced from RES.

With the acquisition of 100% of the shares of HERON Group, GEK TERNA will strengthen its financial position, as it will now consolidate the financial results of HERON Group. At the same time, it will expand its leading presence in the field of energy with the aim of both accelerating the transition to a future with less carbon and providing integrated electricity and gas services and products to an ever-expanding clientele.

Information:

Press Office & Public Relations: Danae Kalantidi, tel. + 30 210 6968000, dkalantidi@gekterna.com

Disclaimer

GEK Terna Holding Real Estate Construction SA published this content on 12 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2021 06:37:00 UTC.


© Publicnow 2021
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P/E ratio 2021 -32,4x
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Georgios Theodoros Peristeris Chairman, CEO & Executive Director
Christos Theodoros Zaribas Chief Financial Officer
Apostolos S. Tamvakakis Independent Non-Executive Director
Spyros Ioannis Capralos Independent Non-Executive Director
Gagik Apkarian Independent Non-Executive Director