Terna Energy has completed the acquisition of the RF Energy Omalies SA wind power company in a move that signals a new generation of investments in both the sector of renewable energy sources and the energy sector in general.
The listed subsidiary of the GEK Terna group announced the acquisition of RF Energy Omalies on Monday, taking its investment program to over 550 million euros, as it will now incorporate the new wind parks the acquired company has planned for Evia.
The enterprise Terna Energy has bought was a subsidiary of RF Energy, which is a joint venture of the Restis family and Giorgos Feidakis’ FG Europe. It owns a portfolio of 11 wind parks as well as a binding offer for connection with the national grid. RF Energy Omalies has also submitted applications to the Regulatory Authority for Energy for an additional 45 megawatts of installed power, and has another license for producing 12 MW in the same area.
At this stage Terna Energy is expected to go ahead with the construction of wind power parks with a total capacity in excess of 180 MW, to take the total capacity of the new wind parks it is planning in the Greek RES market to more than 400 MW and its total investment value to 550 million euros.
Terna Energy’s strategic goal is to develop RES projects totaling 2,000 MW in Greece and abroad. With the addition of the newly acquired portfolio in Evia, this target is expected to be attained far earlier than the original plan for 2025.
The Terna Energy group operates, is constructing or has fully licensed RES installations of 1,512 MW in Europe and America. The total installed capacity of the group amounts to 1,390 MW, as it has installed 607 MW in Greece, 651 MW in the US and 132 MW in the rest of Southeastern Europe.
Besides this new investment in Evia wind parks, Terna Energy has also planned for additional investments of more than 1 billion euros in other wind projects around Greece, as well as in green energy storage projects.