EuroEnergy is dedicated to the planning, financing, construction and operation of renewable energy (RE) projects in Europe and the Mediterranean region. We develop electricity generation systems by deploying alternative energy technologies including wind farms and solar parks, and provide them to national grid systems.
Originating in Greece, the EuroEnergy portfolio has gone on to encompass facilities in Romania, with further projects in additional countries under consideration for the future. We are evaluating several significant projects in the renewable energy sector in the broader South East Mediterranean region and the Baltics, whilst we look to expand to other geographies in the Mediterranean area and throughout Europe as a whole.
A number of our facilities became fully operational by 2012 and were connected to national grids in addition to further growth in our employee base and facilities portfolio. In addition, we have formed strategic alliances with EPC contractors in the solar sector, which strengthen our value chain and allow us to compete effectively for big solar projects. Since formation, we have built up considerable expertise and have key relationships that give us a first mover advantage in the renewable energy market across Europe.
2013 saw the strategic expansion of the company in the wind sector. EuroEnergy acquired two wind farms with a combined capacity of 42 MW. The company also entered the Romanian renewable market, through three solar projects with a combined capacity of 18 MW. The operation is managed through the newly established EuroEnergy office in Bucharest.
Through our parent company, the Libra Group, we can call upon 35 years of history in cross-border business transactions – a key advantage given the multi-faceted challenges of complex regulatory frameworks, relationships, culture and process in the modern energy landscape.
The Company operates two wind parks of a total installed capacity of 42 MW and owns and operates four solar parks with a total installed capacity of 7 MW. We have also invested in the development of two wind projects in Greece with the combined generating capacity of 28 MW that have already received connection and environmental approval terms. All the projects have long-term production off-take agreements with the Greek national grid operator and attractive feed-in tariffs.
We have recently expanded our geographical reach to include Romania, where we constructed and currently operate three solar parks over an area of 38 hectares with a combined generating capacity of around 18 MW.