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“R Energy 1″ is proud to announce that after many months of negotiations, proceeded through its subsidiary company “R Energy 1 S.A. Molai”, towards the acquisition of 100% of the shares of the companies “A.L. Energy Limited”, “Α.P. Energy Limited” and “O.P. Energy Limited” of SUNEL Group. These three companies operate with a capacity of 17.5 MW whereas during this month they will proceed with the construction of another 13 PV Parks with a capacity of 6.5MW. These 13 parks are expected to be completed during the month of December 2022 and after this acquisition, the total number of PV Parks of R Energy 1 will rise to 79.

It is noted that “R Energy 1” has succeeded in less than 2 years to quadruple its operating MWs, whilst with this acquisition it significantly increases its total revenues. Financing was provided by Piraeus Bank Project Finance, which is responsible for the full financing of all the Company’s projects. “R Energy 1”, following its rapid growth rate, has managed to own projects with an operating capacity of 43.4MW while at the same time during the month of June 2022 will begin the construction of a Wind Farm in Central Greece, with a total capacity of 16.4MW. After the completion of the construction of this wind farm, the installed capacity of the Group will rise to 59.8MW in the period 2022-2023.

At the same time, “R Energy 1” within the next few days, is preparing to list its Bond, issued with a Private Placement last December, at the Athens Stock Exchange while R Energy1 Holdings is preparing to file for the listing of its shares to be traded on the ENA PLUS market of the ATHEX. Simultaneously, several other large capacity projects are being developed, and will be ready to participate in the forthcoming bidding contests organized by RAE or to engage in bilateral contracts (Corporate PPAs). In conclusion, it is made clear by the Company’s management that this acquisition, as well as its upcoming projects, will significantly strengthen its presence in the RES sector making it one of the fastest-growing companies in its field, following its excellent (A) credit rating and its historically significant name and tradition.

All of the above already operating projects, due to their geographical distribution are characterized by their high energy production and will contribute decisively to the enhancement of green energy of our country, while the ongoing under development projects combined with energy storage facility systems, will play a significant role in the overall development of the critical energy sector that is characterized by a growing demand and a need for disengagement from fossil fuels dependence on a path for a national energy autonomy.