The Greek company HELLENiQ Energy, which is involved in oil refining as well as the production and distribution of petrochemical products, is actively diversifying its business by channelling significant funds into ‘green’ energy. Following the launch of its subsidiary, HELLENiQ Renewables Romania, the company has announced its intention to accelerate the expansion of its operations and strengthen its position as an integrated energy group in South-Eastern Europe, reports balkangreenenergynews.com.
The four-year investment programme in Romania is estimated to be worth over €1 billion. According to the data provided, this is the second most important market for HELLENiQ Renewables’ development after Greece. The project portfolio includes renewable energy facilities with a capacity of over 800 MW, as well as battery energy storage systems (BESS) – their combined operational capacity will be at least 500 MW, and their storage capacity 1.5 GWh. Specifically, the project comprises four solar power stations with a combined capacity of 211 MW, located in the counties of Teleorman, Giurgiu, Olt and Dolj, as well as a 96 MW wind farm in the county of Galați, with construction scheduled for completion in the second quarter.
Total investment will exceed €2 billion
According to the company, by 2030, total investment in renewable energy sources (RES) and energy storage systems is expected to exceed €2 billion, surpassing the targets originally set out in the ‘Vision 2025’ strategy. Through its HELLENiQ Renewables division, the company operates a capacity of over 800 MW, whilst its total project portfolio exceeds 6 GW. The company also operates in Bulgaria, Cyprus and North Macedonia.
The launch of a hybrid project in Vaslui County, Romania, is scheduled for the second quarter of 2029; this comprises a 186 MW wind farm and a battery energy storage system (BESS) with a capacity of 186 MW and a storage capacity of 186 MWh.
‘We possess the financial stability, technical expertise and operational experience required to develop and operate modern energy infrastructure. Having successfully implemented our ‘Vision 2025’ strategy ahead of schedule, we are moving on to the next phase of growth, in which renewable energy sources and energy storage systems play a key role,” said Andreas Shiamis, Chief Executive Officer of HELLENiQ Energy.
He added that the energy transition is not only a strategic priority for the company, but also an important opportunity for growth, underpinned by a realistic approach, consistency and long-term planning.
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