Ecoener Initiates €300 million Investment Plan for Renewable Energy Expansion in Greece

Ecoener, a leading renewable energy firm, is pressing ahead with its international expansion strategy by committing approximately €300 million to the Greek market. Through its subsidiary, Ecoener Hellas, established in Greece in March 2023, the company is spearheading the development of a renewable portfolio totaling 350 MW in the country, having secured its initial administrative authorization.

“We appreciate the Greek government’s confidence in Ecoener’s projects. Greece is a market where we aim to establish a lasting presence and augment our renewable energy capacity,” stated Luis de Valdivia, CEO of Ecoener.

The Greek government has recently granted administrative licenses for the first 10 projects earmarked by Ecoener for development in the country. Notably, two projects within this portfolio are in advanced stages: a 42 MW wind farm and a 50 MW photovoltaic power station, both slated to be Ready to Build by the end of 2025 and expected to be grid-connected in the first half of 2027.

Furthermore, Ecoener is progressing with eight additional photovoltaic solar projects, collectively amounting to 272 MW, which have also received initial licensing and are poised to commence construction in the first half of 2026. These solar plants will incorporate battery storage systems to enhance integration into the Greek electricity grid. The forthcoming facilities will be situated across regions including Epirus, Central Greece, Thessaly, Western Macedonia, and Central Macedonia.

All projects are greenfield initiatives, wholly owned and managed by Ecoener, from inception to operation.

Greece emerges as a strategic market for Ecoener due to its significant experience in renewables and its National Energy and Climate Plan, which targets 23.5 GW of installed capacity by 2030, representing 44% of the nation’s total power production.

Beyond Greece, Ecoener already maintains operational offices in Europe, including Italy, Poland, and Romania.

Expanding its global footprint, Ecoener recently inaugurated its initial two photovoltaic power stations in the Dominican Republic—Cumayasa 1 and 2, boasting a combined power output of 97 MW. The company anticipates closing 2024 with five operational photovoltaic plants in the Dominican Republic, with a total generation capacity of 279 MW. Ecoener’s investment program for developing new projects in the Dominican Republic amounts to $289 million.

Presently, Ecoener boasts 341 MW in operational capacity and 352 MW under construction.