Press Release – The INTRAKAT GROUP launched its first significant investment in the wind energy sector, by setting in operation a wind park of total power 21MW.

PRESS RELEASE

 

THE INTRAKAT GROUP LAUNCHED ITS FIRST SIGNIFICANT INVESTMENT IN THE WIND ENERGY SECTOR, BY SETTING IN OPERATION A WIND PARK OF TOTAL POWER 21MW

 

Peania, Thursday October 23, 2014 – Τhe inauguration ceremony of the wind park of the company A. KATSELIS ENERGY SA – an INTRAKAT Group subsidiary – was held last week. Numerous representatives of regional and local authorities as well as executives of the INTRAKAT Group and the parent company INTRACOM HOLDINGS attended the event.

The wind park of total power 21MW, situated on mount Kithairon of the Viotia Prefecture, is the first significant investment of the INTRAKAT Group in the wind energy sector. It consists of seven wind turbines, type E-82 of the German company ENERCON, of total power 3,0 MW each. It operates as an autonomous energy production unit, while an exclusive sales agreement for a 20 year period has been concluded with the Greek PPC according to current legislation, which ensures the tariff fee and the commitment to sell the energy produced to the PPC.

The total investment amounted to approximately 30 million euro and it was covered by own equity and debt financing. The project does not receive state funding. The park is a turn key project and it was constructed entirely by INTRAKAT.

The Group’s objective is to gradually increase its investment portfolio in the Renewable Energy Sources (RES) sector, which offers significant development prospects. According to the European Union regulations and the Greek national action plan, by 2020 Greece is obliged to generate 20% of its total energy production from environmentally friendly resources.