HELLENiQ ENERGY, a leading player in the renewable energy sector, has announced its latest acquisition of six photovoltaic parks in Cyprus, boosting the total capacity of its renewable energy sources (RES) portfolio to over 40 MW in the country. This strategic move, executed through its subsidiary HELLENiQ Renewables, represents the group’s fifth international RES investment and its second foray into the Cypriot market.
The acquisition is expected to yield an additional 43 GWh of renewable electricity annually, further increasing the total annual production to 68 GWh. HELLENiQ ENERGY’s Vision 2025 strategy guides this investment, aiming to solidify its position as a leader in the rapidly evolving energy sector.
The new photovoltaic parks will be integrated gradually over the next five months following the completion of the shares transfer process. They are anticipated to significantly contribute to the production capacity of HELLENiQ Renewables in Cyprus.
PricewaterhouseCoopers Ltd. (PwC CY) served as the exclusive financial advisor to HELLENiQ ENERGY for this transaction. The law firm Chrysis Dimitriadis and Associates acted as legal counsel.
HELLENiQ ENERGY has an active presence in Cyprus, focusing on the trading of electricity from RES to industrial customers through its subsidiary, EKO Energy Cyprus. This expansion underscores the company’s commitment to advancing the adoption of renewable energy sources and sustainability in the region.