TERNA ENERGY: Guide to the energy transition with 2,500 MW of projects in operation, under construction and ready for construction


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TERNA ENERGY, a pioneer company in the production and storage of clean energy and the largest Greek investor in the RES market of Southeast Europe, is committed to actively participate in the global common goal: to reduce the environmental footprint and upgrade the quality of human life, building societies on the principle of sustainable development.   

The company has already contemplated and launched an investment plan of 5.5 billion Euros in the fields of clean energy, environment, circular economy, thus expanding its presence in pioneering projects.   

In particular, the Company’s “green” portfolio includes the construction of photovoltaic projects with a total installed capacity of 550 MW in Greece and Southeast Europe as well as the maturation of projects of various technologies (e.g. hydroelectric, storage, hybrid etc.) in Greece which are expected to commence in terms of construction from the following year. At the same time, the large scale pumped storage project in Amfilochia is in full development with an implementation horizon during the period 2025 – 2026. The project called as “Pumped Storage System in Amfilochia” is the largest investment of a similar market in Greece, budgeted for more than 600 million Euros. The project was characterized as a key project in 2013 being a Project of Common Interest on European level (PCI 3.24) and as an Investment of Strategic Importance in 2014. The relevant studies for the project were co-financed by the program “Connecting Europe Facility”, while part of the total cost of the project will be financed by the Recovery and Resilience Fund, following a positive assessment of Greece’s recovery and resilience plan by the European Commission.

In this context the total capacity of the projects in operation, under construction and ready for construction amounts currently to 2,500 MW.

It is worth noting that the installed capacity of TERNA ENERGY today accounts for 1,225 MW after the completion of the installations of Kafireas project at the end of third quarter of 2023. Kafireas project with a total capacity of 330 MW is now the largest complex of wind farms within the portfolio of TERNA ENERGY and the largest of the country, with a realized total investment of 550 million Euros.

Aiming high when tackling climate change

With the principle of sustainable development as key priority, TERNA ENERGY develops and follows a strategy aiming at the continuous improvement and achievement of consequential goals.   

In this context, the Company has committed to reduce its carbon footprint and to contribute to the goal of the parent company, GEK TERNA, i.e. to reduce the intensity of greenhouse gas emissions by 25% by the year 2025 (with 2021 as reference year). This can be attained through specific actions such as implementing a strategy for the use of 100% green electricity and towards limiting energy consumption and greenhouse gas emissions in the Group’s buildings and facilities in Greece. At the same time, the Company assesses on annual basis the respective risks and opportunities related to climate change and contributes to the global effort for de-carbonization by increasing the installed capacity of its RES portfolio to 6 GW by the end of the decade.   

The only Greek company participating in S&P Clean Energy Index

Thanks to its superiority and quality characteristics, TERNA ENERGY has recently joined the global elite of the top 100 clean energy companies, making it the only Greek company included in Standard & Poor’s “Clean Energy Index”. The S&P Clean Energy Index consists exclusively of companies that produce or supply equipment for the production of clean energy (photovoltaic, wind, hydroelectric, biomass and other renewable sources).   

Globally, S&P Clean Energy Index is considered the main index for investing in clean energy, with its constituents including giants such as Vestas, Iberdrola, First Solar, Enphase Energy, etc. from all over the world (Europe, South and North America, Asia). It is also the index that acts as an evaluation criterion for international institutional investors interested in clean energy companies. Currently, there are 7 ETFs (Exchange Traded Funds), which track and invest in index companies only. The largest managed by Blackrock has a size of more than 3 billion Euros and concerns exclusively the companies included in this index.

Unlike other stock market indices, the S&P Clean Energy Index has very strict criteria regarding the environmental footprint of companies, based on the percentage of revenues derived from the relevant activities as well as the ratio carbon dioxide emissions in relation to revenues.

With intense social presence

implementation of an integrated program of related social actions. Thanks to such actions, the quality of life of the residents of various local communities is improved, the education and training of the new generation is being further promoted, the cultural heritage is highlighted and the environmental awareness of citizens is constantly cultivated.   

Specifically, the Company’s actions focus on the development of projects that improve the daily life of residents of the areas in which it operates, such as road construction projects, repairs and restoration of old buildings, improvement works in common utility areas, signage of residential areas, water supply and irrigation projects, etc. A typical example for year 2023 relates to the contribution of TERNA ENERGY towards the project of an artificial kidney unit at Karystos General Hospital, with construction work being undertaken by the Company.   

At the same time, the Company continues to support important cultural and archaeological actions, such as the underwater archaeological excavation process carried out in the sea area of Kasos by the Authority of Marine Antiquities of Ministry of Culture and Sports in collaboration with the Historical Research Institute of the National Research Foundation. Additional actions concern the program of surface, geophysical and excavation research in the acropolis of Voiotia and the interdisciplinary, archaeological research in the island of Agios Georgios by an international, inter-institutional research team formed by the Department of History of the Ionian University.   

In addition, every year a large part of TERNA ENERGY’s sponsorship program is consistently directed towards supporting university and school innovation teams as well as sports clubs and teams for their participation in local as well as European and international events.