The Governor of the State of Texas recently issued a declaration of a state of disaster in all 254 counties in the state due to severe winter weather posing an imminent threat of widespread and severe property damage, injury, and loss of life due to prolonged freezing temperatures, heavy snow, and freezing rain statewide. The deep freeze has forced the shutdown of refineries and oil wells, frozen essential components of the state’s electricity and gas distribution systems and severely disrupted electricity generation by thermal and renewable assets in large parts of West/Central Texas.
TERNA ENERGY owns three wind projects in Texas aggregating 520MW in installed capacity. All three projects have been operationally constrained and have been unable to provide electricity during this unprecedented period, facing potentially adverse financial impact. TERNA ENERGY is closely monitoring the situation and working diligently to mitigate the financial consequences while safeguarding the health and safety of its personnel. The weather event is still on going. We will revert when we have more clarity on the situation.
Currently, TERNA ENERGY Group has more than 1,800 MW in operation, under construction or ready for construction in Greece, the USA, Central and Eastern Europe. Specifically, the total installed capacity of the Group in Greece and abroad amounts to 1,373 MW, while an additional 430 MW in Greece is under construction or ready for construction. Moreover, the company is developing another 1,200 MW in Greece, to be ready for construction within the coming period and reach the 3,000 MW target by 2025. It is worth noting that the company is currently preparing another two (2) large scale pump storage projects and numerous PV projects in Greece that soon could be enhancing materially the current target.
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