HELLENiQ Renewables has taken significant steps to enhance its presence in the Southeast European renewable energy market by acquiring Agro NV Properties EOOD from Element Power Group EOOD. This strategic acquisition represents HELLENiQ Renewables’ first move into the growing Bulgarian renewable energy market. Simultaneously, it significantly increases the corporate wind project portfolio capacity that the company has in Romania.
The company recently kicked off a new and pretty cool project in Bulgaria. This photovoltaic (PV) plant, in the Haskovo region, has a peak capacity of 123 megawatts. In conjunction with this, it intends to add a replacement battery energy storage system (BESS) of 90MW/180MWh. Construction on this project will complete in the summer of 2025. If all continues to proceed on track, we would anticipate it being open to full revenue service by 2027.
Strategic Investments and Projects
Alongside the Bulgarian PV project, HELLENiQ Renewables has strengthened its wind energy portfolio in Romania. The firm purchased a 96MW ready-to-build wind project in the Galati region from OX2 Holding New Markets. This expansion deepens HELLENiQ’s footprint in the Romanian renewable energy landscape. It continues from the recent acquisitions of Ansthall Green Energy, furthering the company’s dedication to eco-friendliness.
The acquisition is an ideal match for HELLENiQ’s strategic aspirations. Its goal is to increase its investment portfolio and assist local and state energy transition development objectives. The company has recently won a virtual power purchase agreement (PPA) with Koninklijke Ahold Delhaize. This agreement extends to more than 60% of the output from its projects. This PPA provides long-term, reliable revenue for HELLENiQ Renewables through 2037.
“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.” – Lăcrămioara Diaconu-Pințea
Future Developments and Capacity Expansion
Looking ahead, HELLENiQ Renewables plans to initiate construction on two battery storage projects in Florina, Greece, slated for the fourth quarter of 2025. Collectively, these projects are projected to have a capacity of 50MW or 200MWh. Battery storage initiatives underscore the importance of HELLENiQ’s strategy. They assist in ensuring safe, reliable and efficient energy for all their activities.
The company’s latest projects were selected by the Regulatory Authority for Energy, Waste, and Water through its third tender round. This decision marks HELLENiQ’s deep commitment to helping accelerate renewable energy capacity growth across Southeast Europe.