HELLENiQ ENERGY Group has announced an expansion into the renewable energy sources (RES) market of Southeast Europe by acquiring more than 400MW worth of projects.
The move includes entering the Bulgarian RES market and enhancing Romania's wind project capacity, both moves representing strategic growth for the company's clean energy ambitions.
In Eastern Romania, HELLENiQ Renewables Romania has completed the purchase of Ansthall Green Energy from OX2 Holding New Markets.
This acquisition provides a 96MW ready-to-build wind project in Galati region.
Construction is set to commence in summer 2025 under an agreement with OX2 Construction, with operational status expected by 2027.
This project will enjoy secured revenue up to 2037 through a virtual power purchase agreement (PPA) with Koninklijke Ahold Delhaize covering more than half its production.
A binding agreement was also signed for acquiring Helos & Wind Energy, which has a ready-to-build wind project of 186MW capacity in the Vaslui region of Eastern Romania.
It also presents an option to incorporate a 186MW/186 megawatt-hour (MWh) battery energy storage system (BESS). The completion hinges on satisfying conditions such as approval from Romania’s Foreign Direct Investment (FDI) Committee.
The group's entry into Bulgaria is marked by acquiring Agro NV Properties EOOD [Ednolichno Druzhestvo Ogranichena Otgovornost, or Single-Member Limited Liability Company] from Element Power Group EOOD. This entity owns a photovoltaic (PV) project poised for construction in the Haskovo region of southern Bulgaria, with 123 megawatts peak capacity and a potential 90MW/180MWh BESS addition.
Two battery storage projects in Florina, Greece will begin construction during the fourth quarter of 2025.
With capacities totalling 50MW or 200MWh collectively, these have been selected through the Regulatory Authority for Energy, Waste and Water's third tender process to receive both investment and operating aid specific to energy storage systems (ESS).
OX2 Romania country manager Lăcrămioara Diaconu-Pințea stated: "The transaction with HELLENiQ Renewables demonstrates how OX2 develops its Romanian portfolio by progressing projects to financial investment decision. We're strategically positioned to become one of the leading renewable energy companies in Romania while making a meaningful contribution to the country's renewable energy objectives and energy transition goals.”
