Announcement of other important matters: Entry in the Renewable Energy Sources sector.

MOTOR OIL (HELLAS) S.A. announces its entry in the sector of Renewable Energy Sources (RES) through its wholly-owned subsidiary ELEKTROPARAGOGI SOUSSAKI S.A.

 

As a first step, the newly formed Cyprus-based company TEFORTO HOLDINGS LIMITED, 100% subsidiary of ELEKTROPARAGOGI SOUSSAKI S.A., acquired 85% of the share capital of STEFANER ENERGY S.A. The latter was founded in Greece in 2014 and possesses three power production licenses for a respective number of wind parks in Greece of a total capacity of 9.4 MW.

 

STEFANER ENERGY S.A. will proceed with the construction of the three above mentioned wind parks at an estimated total construction cost of Euro 12 million.

 

Maroussi, 18 October 2019.

The Board of Directors


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