The acquisition of 35% of the Greek Company R ENERGY 1 S.A.
February 2, 2021
December 2020: TTSA S.A. expands its business activities in the Renewable Energy Sector by the acquisition of 35% of the Greek Company R ENERGY 1 S.A.
Following a long period of reforms, the Greek Economy is beginning to stabilise and a new landscape of investing opportunities is opening up. All analysts seem to agree that the two main industries that are expected to present the most interest are Tourism and Energy with Renewables being one of the main driving forces.
Taking advantage of the Greek Renewable Energy Market’s main characteristics (high degree of sunlight, attractive tariffs, a closed 20-year contract with the Public Power Company), TTSA S.A. has decided to expand its business activities in this Renewable Energy Sector by the acquisition of 35% of the Greek Company, R ENERGY 1 S.A, at the closing of 2020.
R ENERGY 1 SA ( www.r-energy.gr) is a Greek company based in Athens. The company was founded in 2012 with the purpose of investing within the Renewable Energy sector while became public by entering the Cyprus Stock Exchange secondary Market in August of 2016, trading under the symbol of ROEN.
Since its founding, R Energy 1 aspired to become a company that will perform significant investments within the Renewable Energy Sector. Its basic philosophy derives from the belief that Renewable Energy Sources will play the most prominent and transformative role in the evolution, that currently takes place in the World Energy sector.
The major shareholder of the Company, Mr. Georgios M. Rokas, possesses extensive experience in the Renewable Energy Sector. He and his family were the founders and main shareholders of Rokas Group, the pioneer company of the Greek Renewable Energy Sources Market, that was sold to Iberdrola Group in 2007.
R-Energy 1 currently operates PV Park Clusters with a combined nominal Power of 19,2 MW, while a 15MW Wind farm in the area of Central Greece is currently under development and which will be completed within 2021.
Power capacity will increase to more than 59,2 MW pipeline, which will be completed within 2022 through the construction of 40 New PV Solar Parks, as well as wind farms already secured and in progress.Back to Press Releases