Having received preliminary approvals from the Regulatory Authority for Energy (RAE), Damco Energy commits to deploy investments in the development of wind parks in Greece. Damco Energy will develop wind parks in Evia (9 MW + 188 MW in Southeastern Evia), in Peloponese (48.6 MW), in the island of Crete (7.2 MW), in the island of Rhodes (11.05 MW) and in the Attica Region (21.6 MW). We will also move forward with plans to develop a small hydroelectric plant (5.5 MW) in the prefecture of Achaia (Peloponese) which has gained the relevant approval.
This commitment builds on Damco Energy S.A.'s investments in the following wind parks: Thrace (an extension of 123.2 MW to an already installed wind park), South Peloponese (172 MW), Cyclades Aegean islands (Andros, Paros, Naxos, Tinos with total capacity of 400 MW), Evia (13.5 MW), Skopelos island (12.6 MW), and Cephalonia (the largest of the Ionian islands, with 12.8 MW).
The commitment's success will be measured in terms of the environmental impact resulting from the above mentioned projects.
Damco Energy's project will affect the Greek energy balance significantly with the support of the company's highly qualified personnel, its efficiency in obtaining wind park permits for various regions in Greece, and through quality orientation. We will also seek to cooperate with the local communities where we work.
Since 1988 Copelouzos Group has targeted on renewable energy issues and has integrated its wind power capabilities with other successful activities in this sector. Copelouzos Group's wind experts collect and analyze data from many wind sites around Greece, and submit applications to the Regulatory Authority for Energy (RAE) in order to continuously develop new wind parks. The total installed wind generating capacity of Copelouzos Group is more than 84.1 MW, which accounts for a 20% market share in this sector. Damco Energy will execute the project on a turn-key procedure.
Damco Energy S.A. is a member company of Copelouzos Group and contributes 50% to all its renewable projects. The other 50% belongs to the Greek company International Constructional S.A. International Constructional is a contractor heavily engaged in the construction of all large electromechanical projects, mainly for the Greek Railways Organisation and others. International Constructional owns 68% of another major Greek contracting company, Atermon S.A., specializing in grid development projects. Atermon S.A. has constructed a large number of 150/20 KV substations and many medium and high voltage lines, both aerial and underground, for the Greek state-owned utility, Public Power Corporation (PPC).
Damco Energy SA possesses substantial expertise and funds to deliver its planned commitments. However, strategic partnerships with well established international energy companies are welcome in order to create synergies and achieve a diversified and expanded energy accomplishment.