DEPA Commercial signed a binding Memorandum of Understanding (Memorandum of Understanding – MoU) with AKTOR Renewables, a 100% subsidiary of the AKTOR Group, for the strategic cooperation of the two companies in the development of a specific portfolio of Renewable Energy Sources and electricity storage projects.
The Memorandum provides for the intended - subject to obtaining the relevant corporate approvals - acquisition by AKTOR Renewables of a 51% stake in the companies developing the specific projects, with DEPA Commercial retaining a 49% stake and both parties proceeding jointly with their further development and implementation.
Within the framework of the cooperation, DEPA Commercial will manage the electricity produced by the projects, leveraging its know-how and experience in the energy market. This role further strengthens the company's presence in the electricity market and confirms its strategic direction for a stronger presence in green energy, across the entire spectrum from development and production to its management and commercial exploitation.
More specifically, the agreement concerns:
- hybrid RES projects, of DEPA Commercial's subsidiary, NEW SPES CONCEPT, in Central Greece (Boeotia, Phocis, Aetolia-Acarnania), Thessaly (Larissa) and the Peloponnese (Achaea) that combine photovoltaic stations with a total installed capacity of 221.1 MW with electricity storage systems in batteries, with a maximum injection power of 221.1 MW. For the projects, Environmental Terms Approval Decisions have been issued and applications have been submitted for the granting of Final Connection Offers for the photovoltaic stations, and
- standalone electricity storage projects with batteries, with a total maximum injection power of 250 MW, for which the required environmental approvals have also been secured and which are located in Western Macedonia (Kozani), Thessaly (Larissa) and Central Greece (Phocis).
The agreement is part of DEPA Commercial's strategy for the utilization of synergies and the creation of strong business partnerships, with the aim of accelerating the development of mature and under-development energy projects.
Within the framework of its vertical integration strategy and its transformation into an integrated energy group, DEPA Commercial continues the independent development and implementation of the core RES portfolio that it keeps under its control.
This includes, among other things, projects with a total capacity of 500 MW in Western Macedonia through NORTH SOLAR, of which 400 MW of projects are now in the construction phase, as well as a photovoltaic project of approximately 96 MW in the Farsala area, through NORTH SOLAR 1, which is at an advanced stage of construction and in fact the project is expected to be electrified in the first quarter of 2027.
At the same time, DEPA already has 83 MW of RES projects in operation in Western Macedonia (Kozani), Central Greece (Phthiotis) and Epirus (Preveza, Thesprotia), steadily strengthening its presence in electricity generation from renewable sources.
With the development of new generation capacity, investments in RES and storage, and the creation of strategic partnerships, DEPA Commercial consistently implements its vertical integration strategy, expanding its footprint in power generation and Renewable Energy Sources.