HELLENiQ ENERGY Holdings S.A. (ATSE:ELPE) is close to buying a 20-MW solar park in Cyprus in a deal expected to be sealed within the next few weeks, Insider Greece reports. The target 20-MW photovoltaic (PV) farm is already generating electricity. Specific details about its location and annual output were not available.

The transaction will mark the Greek firm's entry into the renewable energy market in Cyprus where Helleniq Energy allegedly intends to become a key player and build a portfolio totaling 50 MW-100 MW.