George Rokas, Chairman and CEO of R Energy 1 Holdings, at the 6th Renewable & Storage Forum by Energypress: “ Renewable Energy Set to Grow – Next Phases Call for Strategic Investment”

Athens, November 1, 2024 – George Rokas, Chairman and CEO of R Energy1 Holdings, participated as a speaker at the 6th Renewable & Storage Forum organized by Energypress. In his remarks, Mr. Rokas highlighted the opportunities and challenges facing Renewable Energy Sources (RES) in Greece, emphasizing the critical need for investment to drive the sector forward.

Mr. Rokas noted that, like any investment, renewable projects come with inherent risks, underscoring the importance of thorough planning and risk awareness. “Renewables will remain and expand, as current developments indicate. The decommissioning of lignite power plants in Megalopolis and Meliti 4 marks an important milestone in the growth of RES, providing a clear signal of the market’s trajectory,” he stated.

Commenting on the investment environment, Mr. Rokas observed that, as seen with the development of photovoltaic projects in Greece, investors have been able to realize returns despite economic challenges and policy adjustments. “Renewable growth is on an upward path and will continue, though with some market consolidation and fewer active players. A resilient investor can navigate the risks and sustain profitability,” he emphasized.

Mr. Rokas also underscored the need for further investment to support the next stages of RES expansion and Power Purchase Agreements (PPAs). “New investment is essential to ensure that projects scheduled for 2030 can find a reliable demand outlet for their energy production,” he noted.

Finally, addressing the importance of local community engagement and acceptance of RES projects, Mr. Rokas stressed the role of citizen participation and economic benefits. “Beyond financial returns, companies must actively involve local communities and foster a sense of shared ownership in these projects,” he concluded.