Green deals are flourishing
The green transition may have been a strategic goal for Greece for many years, but the green investment gap remains particularly high.
Remarkably, 44.3% or 30 billion euros of the projects under the Recovery Fund are related to green transition, without taking into account investments in the form of public works, public-private partnerships (PPP) and concession contracts. At the same time, at a European Union level, it is estimated that additional public and private investments of €520 billion will be required, annually, until 2030. With such numbers, companies are intensifying their investments in technologies and energy infrastructures that ensure a limited environmental footprint.
One of the latest investments of this kind includes the acquisition by energy supplier Nrg (of the Motor Oil group) of 60% of Automotive Solutions, which has been active in the field of electrification since 2002. The deal serves Nrg’s goal of creating the service station of the future, where, among other things, electric car charging will become possible and Nrg’s strategic goal of creating the largest electric car charging network in Greece, covering all national road axes, will be served.
PPC, which boasts the largest network of e-vehicle charging stations in Greece (PPC Blue), acquired last month the electric mobility service provider Carge.
In hydrogen, the Motor Oil group, which is already a producer through the Agii Theodori refinery, is stepping up investments. Together with PPC, it recently set up Hellenic Hydrogen with the aim of developing green hydrogen production projects in Greece. Investments in the order of €2 billion in the production and storage of clean energy are being implemented by GEK Terna, with the group’s green portfolio including the development of new wind and photovoltaic parks.
With offshore wind farms being an emerging category of renewable energy production, construction groups are entering into strategic alliances with foreign groups for the implementation of such projects. In this direction, Terna Energy has entered into a strategic alliance with Ocean Winds, while Mytilineos has set up a joint scheme with Copenhagen Infrastructure Partners (CIP). Intrakat also has a strategic partnership with the Belgium’s Parkwind.
