At the forefront of the renewable energy roll-out

Eco Atlantic progresses European solar plans

Eco Atlantic Oil & Gas has moved its European solar development aspirations forward, with a new JV taking aim at a pipeline across Greece, Bulgaria, Hungary, and Spain. 

The listed Oil & Gas exploration company’s solar subsidiary, known as Solear, confirmed in an operational update published yesterday (November 1) that it signed an MOU in October with IPP B&S Power to explore the acquisition of ready-to-build projects across the continent. 

The JV is currently evaluating its first project, a 104MW Greek PV scheme which is being sold in an ongoing competitive auction process. 

B&S is also bringing its currently under development solar assets into the partnership and has previously completed plants in Italy, Bulgaria, and Turkey. 

Meanwhile, Solear in January acquired the consented 10.57MW Kozani project in Greece, which has a feed-in tariff and the company predicts should deliver a 9% IRR. 

Eco Atlantic states that projects developed by the Solear – B&S JV will be funded by an international EPC company. 

Tagged as: ,

Follow us on LinkedIn

© Energy Rev 2022