Israel's Econergy to team up with Terna Energy to build solar plants in Greece

Terna Energy SA

25/04/2022 09:30

LONDON, April 25 (Reuters) - Israel's Econergy Renewable
Energy  ECNR.TA  has partnered with Greece's Terna Energy
 TENr.AT  to develop 460 megawatts (MW) of solar plants in
Greece, it said on Monday.
    Econergy will acquire 49% of the share capital in Terna
Energy which is developing two solar plants with capacity of 240
MW and 220 MW, respectively, in the Kilkis region of Greece.
    The total investment for the construction of the projects is
estimated at 265 million euros ($285 million), of which
Econergy's share is around 130 million euros.
    Econergy said the projects should be ready to begin
construction in the fourth quarter of 2023, with completion
expected at the end of 2024.
    The Greek electricity market has the potential for
significant growth in the coming years, due to its long-term
tariff tenders, the possibility of selling electricity on the
free market at attractive prices, and relatively high solar
radiation, Econergy added.
($1 = 0.9307 euros)

 (Reporting by Nina Chestney, Editing by Louise Heavens)
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