In response to the Letter of the Greek Capital Market Committee dated 13.07.2007 we confirm that a Lease Contract has been signed between our subsidiary HERON THERMOELECTRIC S.A. and the company DEH S.A. regarding the lease of a power plant of a 147 MW capacity, for a three year term, contract which falls within the usual contractual framework of the said subsidiary and is not expected to have a significant effect on the consolidated results of the Group.
The Group, since as early as 2004, has obtained a strategic place in the Greek energy market, by operating the first and only, up to date, not state controlled thermo electrical plant of a 147 MW capacity. We l aim at expanding very soon our Group's activities in generating power from thermal resources with a view to multiplying our capacity in the coming years.
Our Group's total capacity in thermoelectric plants is scheduled to reach 1200-1500 MW in the next five years. The total estimated cost of the aforementioned investments amounts to 1,5 billion euros.