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MYTILINEOS HOLDINGS S.A. in co-operation with Entesa Hellas to acquire Alexandroupolis-based wind energy company Evroenergiaki S.A. from Deutsche Erneuerbare Energien GmbH
MYTILINEOS HOLDINGS S.A. in co-operation with Entesa Hellas to acquire Alexandroupolis-based wind energy company Evroenergiaki S.A. from Deutsche Erneuerbare Energien GmbH
Published 01-04-11
Submitted by MYTILINEOS Holdings S.A.
MYTILINEOS HOLDINGS S.A., in co-operation with Endesa Hellas and in line with the implementation of the commonly agreed strategy for the dynamic expansion in the Greek electricity market, announces the acquisition of an 80% equity stake in the share capital of Evroenergiaki S.A. from Deutsche Erneuerbasre Energien GmbH, an affiliate of Deutsche Bank, and Messrs. N. Jung and G. Voulgarakis.
Evroenergiaki is located in Alexandroupolis and engages in the development, construction and operation of Renewable Energy Sources (RES) with emphasis in wind farms in the greater area of Northern Greece. It operates a wind farm of a total installed capacity of 3 MW located in Alexandroupoli, has an installation licence for a wind farm of a total installed capacity of 30MW, while has a project pipeline of 100 MW in various stages of development. According to the terms and the consideration to be paid, the transfer of the shares will be effected by Endesa Hellas. The consideration to be paid can be up to EUR 16 million, out of which EUR 2 million corresponds to the assumption of bank debt.
This acquisition signals the further enhancement of Endesa Hellas' RES project portfolio, reinforcing its shareholders' commitment to become Greece's largest independent power producer with a well balanced capacity generating portfolio of thermal and RES units.
Leveraging on Endessa's proven technical and operational expertise as well as on MYTILINEOS' growth potential and deep knowledge of the Greek electricity market, Endesa Hellas aims at playing a leading role in the Greek energy market as well as selectively expanding in South-East Europe.
MYTILINEOS Holdings S.A.
MYTILINEOS Holdings S.A.
The MYTILINEOS Group is active in the sectors of Energy, Metallurgy and Mining and EPC projects (Engineering-Procurement-Construction). Since its establishment, in 1990, its development has been outstanding and today it is considered one of the country's leading industrial groups, with significant international activity and listed on the Athens Exchange (ATHEX).
With a workforce of 2,000 employees in Greece and abroad, the Group's hard and fast goal is business excellence, always in accordance with the principles of Corporate Social Responsibility and demonstrating in all its activities its respect for the environment, society and people.
Activities
In metallurgy and mining the Group has established itself as one of the leading groups in S.E. Europe and the Middle East in the sector of production and trading of alumina and aluminium via its subsidiaries, Aluminium of Greece and Delpoi - Distomon.
Moreover, the MYTILINEOS Group has evolved into the leading independent energy producer in Greece through carefully planned strategic partnerships and business decisions. The group activates in this sector via M&M Gas, a company jointly established with MOTOR OIL for the supply and trade of natural gas and PROTERGIA, the company that came into being through the 100% acquisition and operation of ENDESA HELLAS, with its activities including the development and operation of thermal power plants and of renewable energy sources, as well as the trading of electrical power and CO2 emissions.
Regarding EPC projects, the Group has established its presence in the sector through its METKA subsidiary which has developed into the leading EPC Company (Engineering-Procurement-Construction) in Greece and is acknowledged as one of the most specialized and internationally renowned constructors of energy projects in Europe. METKA, which is listed on the Athens Stock Exchange, implements turn-key projects from their engineering and procurement stage to their construction, primarily for combined-cycle, conventional thermal and hydroelectric power plants.
The dynamic business growth of the MYTILINEOS Group is fully aligned with the principles of Corporate Responsibility and Sustainable Growth. For the Group, the concept of Sustainable Growth is synonymous to seeking business excellence while remaining committed to its vision and respecting society, the environment, its people and its shareholders, and to ensuring the harmonious coexistence of its business activities with the needs of the local communities where its operations are located. In this context, the Group is actively supporting major initiatives in the domains of Culture, Education, and the protection of the Environment.
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