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Hellenic Petroleum has allocated €130m for solar energy

Hellenic Petroleum has allocated €130m for solar energy

The oil company Hellenic Petroleum SA has completed the purchase of a powerful portfolio of photovoltaic solar projects in the wider region of Kozani in Greece, with a total value of 130 million euro, the company announced.

Hellenic Petroleum, which has majority ownership over the Montenegrin Jugopetrol, says that the photovoltaic solar project would be an initiative for the use of renewable energy sources.

When completed, the PV project will be the largest-scale RES initiative project in Greece and one of the biggest PV projects in Europe with a total planned installed capacity of 204 megawatts.

“The total cost of the investment is estimated at €130 million, with more than 35% of materials, equipment and labor coming from Greece, while more than 350 jobs will be created during the construction phase of the project,” the company stated.

The start of works lasting for 16 months is planned for October, while the photovoltaic projects will be put in operation until the first quarter of 2022.

Hellenic Petroleum explained that the project included the construction of 19 photovoltaic systems at an area of 4.400 acres.

Andreas Shiamishis, HELLENIC PETROLEUM CEO, has pointed out that the purchase of a photovoltaic projects significantly contributes to the local and national economy.

 

Source: CDM

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