Helleniq Energy Holdings on Monday announced it has reached a binding agreement to buy a portfolio of solar power projects, with a total power of 211MW, from Mytilineos Energy & Metals through its subsidiary Helleniq Renewables for an undisclosed sum.

The binding agreement signed by the two companies includes the construction and transfer of four (4) solar parks in Southern Romania that are already in an advanced stage of development, of which 13 MW are expected to enter commercial operation in 2023, 108 MW in 2024 and 90 MW by Q3 2025. All parks will be delivered on the Commercial Operation Date (COD). The total annual production of the projects is expected to exceed 300 GWh of green energy, enough to meet the needs of 100,000 households.

The projects are part of the international renewables portfolio that is being developed by M Renewables, under the Energy sector of Mytilineos. Said transaction is part of Mytilineos’ ongoing asset rotation program, designed to accelerate value creation from the M Renewables platform as proceeds are being redeployed in the development of our large pipeline.

This agreement marks Helleniq Energy Group’s entry into Romania’s rapidly-growing RES market. It is also the Group’s second entry in the international RES market over the last months, following the recent entry in Cyprus’ RES market, accelerating its portfolio growth and strengthening its extroversion.