HELLENIC PETROLEUM RENEWABLE ENERGY SOURCES S.A. (HELPE Renewables) was founded in 2006 and is a 100% Group-owned subsidiary. The Company’s objective is the production, distribution and trade of energy products derived from the exploitation of renewable energy sources as well as the study, trading, construction and installation of renewable energy systems (wind, solar, biomass etc.)
HELPE Renewables’ target is the development of a significant renewable energy portfolio (wind, solar, biomass etc.), over the next few years in order to diversify its energy portfolio and partially offset the Group’s greenhouse emissions. The reduction of its carbon footprint will amount to at least 250,000 tons per year which will partially offset a significant proportion of CO2 emissions that correspond to refining and gas fired power generation.
HELPE Renewables already operates PV parks on Group-owned property with a total capacity of 1.4 MW as well as a 7 MW wind park in Pylos, Messinia. Further projects in various stages of development include: 4 additional PV projects with a nominal capacity of 11.6 MW, as well as 5 heat and power generation units using biomass (agricultural waste) with a total capacity of 25 MW. The Electricity Transmission System Operator has also already approved 7 own -production consumption applications (net-metering program), each one of 20 kW, for 7 EKO and BP petrol stations to be built in 2016. Investing in similar investments, in regard to own -production for own-consumption purposes on the Group’s premises connected to the MV distribution network, are also being considered .
In addition, HELPE Renewables, in collaboration with LARCO, is developing a PV portfolio of 143 MW as well as wind and hybrid projects.
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