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Securing PPAs for an Additional 102 Megawatts of Wind Energy Projects
July 29, 2020 (Houston, TX) – 547 Energy LLC (547 Energy), the renewable energy platform of Quantum Energy Partners, announced today that its affiliate, 547 Energy International European Holdings, LLC, in partnership with ENORA S.A. (ENORA), has been awarded 20-year power purchase agreements (PPAs) by Greece’s Regulatory Authority for Energy (RAE) for three wind energy projects constituting 102 megawatts (MW) of capacity. The projects, which are located in the Arcadia and Archaia regional units of the Peloponnese peninsula, bring the total number of wind energy PPAs jointly awarded to 547 Energy and ENORA to eight, totaling 390 MW.
“With the successful tendering of 614 MW of solar and wind capacity, the growth of renewable energy continues to promise a brighter, cleaner future in Greece,” said Gabriel Alonso, CEO & President of 547 Energy. “We are pleased at the continued success that we have found with our partner, ENORA. In eight short months, our collaboration has built a best-in-class development portfolio of onshore wind projects in Greece, and one that rivals any in Europe. ENORA continues to demonstrate its leadership in Greece’s wind energy community with the successful cultivation of numerous high-quality projects. Additionally, we would like to commend the Ministry of Energy and the Regulatory Authority for Energy for administering another highly successful auction, and for maintaining a commitment to the decarbonization of the country’s electricity generation amidst unprecedented global conditions.”
ENORA is a subsidiary of ENTEKA S.A. (ENTEKA), which was established in 1984 and is one of the leaders of the renewable energy sector in Greece. Panagiotis Papastamatiou, Development Director of ENTEKA, remarked, “We are extremely proud to have secured additional capacity in the July auction, particularly considering the strength of the competition. Amidst unprecedented circumstances, the auction process continues to make great progress in advancing renewable energy development while also driving down costs for the citizens of Greece, and 2020 appears to be on pace for a momentous year for wind energy in Greece. We would like to thank 547 Energy and Quantum Energy Partners for continuing to support Greece in achieving its 2030 renewable energy goals.”
The 102 MW of wind energy projects awarded will support Greece’s efforts to achieve the significant energy and climate targets included in its Energy Plan for 2030.
About 547 Energy
547 Energy aims to maximize value for its investors by partnering with leading entrepreneurs who are driving growth in the clean energy economy. To date, 547 Energy has invested in ConnectGen, LLC and ENORA S.A. 547 Energy was founded and is led by industry veteran Gabriel Alonso and is backed by Quantum Energy Partners, a leading provider of capital to the global energy industry. For more information on 547 Energy, please email info@547energy.com or contact Joe Sy at +1-713-452-2189.
Why the name 547 Energy?
The human eye sees color over wavelengths ranging from approximately 400 nanometers (violet) to 700 nanometers (red). A wavelength of 547 nanometers is visible as “electric green”. At 547 Energy, we help sophisticated entrepreneurs and experienced developers power the green energy economy.
About Quantum Energy Partners
Founded in 1998, Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates more than $17 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumep.com or contact Michael Dalton at +1-713-452-2110.
About ENORA S.A.
ENORA is a renewable energy developer and operator in Greece, part of ENTEKA Group which have more than 30 years of experience developing, construction and operating wind and solar energy projects. For more information on ENORA, please contact Panagiotis Papastamatiou at +30-21-0681-6803.
