Hellenic Petroleum Renewable Energy Sources S.A. (ELPE Renewables) has been established in 2006 and is 100% owned by Hellenic Petroleum S.A.
Under the scope of the company it is the manufacturing, distribution and reselling of renewable energy sources, the study, distribution, construction and installation of renewable sources (PV, wind, biomass etc.) and the participation in companies with similar activities.
ELPE RES has set the target of the development of a significant portfolio of renewable sources (RES) till 2015, exploiting the real estate of the Group, in order to decrease the CO2 footprint of ELPE Group by at least 250,000 tons per annum.
ELPE Renewables has already 1.4 MW of PV units in operation and another 3 PV units of 10.5 MW under development on ELPE Group real estate. In addition another 2 biomass units 4.7 MW and 5 MW are under development.
ELPE Renewables in cooperation with LARCO has a portfolio of 147.5 MW PV projects under development. In addition to PVs, Wind and Hybrid projects are also in the scope.