Revoil Group announced today that it has completed the acquisition of photovoltaic parks with a total capacity of 10 MW for a price of €1.74 million.

As a consequence of the acquisition, the group will repay the existing bank loan of €6.5 million for these parks over a period of 15 years. The parks are in operation (electrified) as well as a photovoltaic park of the Group in Arcadia with a capacity of 3.34 MW that was recently (10 June 2024) connected to the grid. A total of 14.34 MW of parks are currently in operation, which, on an annual basis, is estimated to contribute to the Group's operating profitability (EBITDA) of €1.2 million.

"The Group is moving forward with a five-year plan to operate renewable energy projects (photovoltaic, wind farms, and storage units) with a total capacity of 200 MW. A 3 MW wind farm in Boeotia is under construction, as are photovoltaic parks with a total capacity of 9 MW in Boeotia, Stylida, and Νorth Evia. 

There are 124 MW wind farms in the environmental licensing process in Rodopi and Boetia and a 24 MW storage plant in the Nafpaktos area," the Revoil statement concludes.