HELLENiQ ENERGY (formerly known as Hellenic Petroleum) has announced the acquisition of six solar parks in Cyprus with a total capacity of 26 megawatts (MW), significantly boosting its renewable energy (RE) portfolio in the country to over 40 MW.

The company, through its subsidiary HELLENiQ Renewables, indicated that this acquisition marks its fifth international renewable energy investment and the second in the Cypriot market. This specific investment is expected to contribute an additional annual renewable electric energy production of approximately 43 gigawatt-hours (GWh), increasing the total annual output to 68 GWh.

These new parks will gradually commence operations within the next five months, following the completion of the share transfer process, and are expected to be integrated into the productive capacity of HELLENiQ Renewables Cyprus.

Andreas Shiamishis, the CEO of HELLENiQ ENERGY, stated that this investment aligns with the company’s “VISION 2025” transformation strategy. He highlighted that shortly after announcing their new strategy, they have already invested over 500 million euros in green energy projects. The company currently operates a renewable energy portfolio exceeding 350 MW and has another 700 MW in advanced development stages.

Shiamishis added that these investments not only improve the company's environmental footprint but also aid in the further international expansion of the group, which now conducts over 50% of its activities outside Greece.

HELLENiQ ENERGY, a leading integrated energy group in Southeast Europe, was established in 1998 and operates across six countries. Its diverse portfolio spans the entire energy value chain. In 2022, the Group's turnover reached 14.5 billion euros, with Comparable EBITDA earnings at 1.601 billion euros, and total investments amounting to 512 million euros. EKO Cyprus Ltd is a wholly-owned subsidiary of HELLENiQ ENERGY.