TERNA ENERGY: The amendment of the Public-Private Partnership (PPP) Agreement for the Integrated Waste Management of Peloponnese Region was signed

 

The amendment of the Public-Private Partnership (PPP) Agreement for the Integrated Waste Management of Peloponnese Region was signed

The modern, socially responsible and fully integrated waste management in the Peloponnese Region, Greece, becomes a reality as of today, following the relevant amendment of the Public-Private Partnership (PPP) Agreement for the Integrated Waste Management of this region, signed between the Peloponnese Region Authority and the entity “Perivallontiki of Peloponnese’’, member of TERNA ENERGY Group.

The signing of the amended Partnership Agreement facilitates the Intermediate Waste Management period in the units of the project that have already been completed (Transitional  Waste Management Unit in Paleochouni, County of Arcadia and Waste Transfer Station in Nea Kios, County of Argolida), providing modern waste management services with the environmental protection as core priority and ensuring that public health requirements are met, offering at the same time multiple benefits to local communities which function as vital parts of the circular economy.

TERNA ENERGY : HYDRO PUMPED STORAGE IN AMFILOCHIA

 

HYDRO PUMPED STORAGE IN AMFILOCHIA

TERNA ENERGY: New wind farms with a total capacity of 90 MW to be developed in Poland

 

TERNA ENERGY: New wind farms with a total capacity of 90 MW to be developed in Poland

TERNA ENERGY further strengthens its presence in the Renewable Energy Sources market of Poland, promoting four (4) new projects with a total capacity of 90 MW. The four (4) wind farms are in the initial stage of licensing and TERNA ENERGY will mature, build and operate them in the context of its strategy for continuous expansion of its activity in the field of clean energy production.

TERNA ENERGY already operates in Poland eight (8) wind farms with a total installed capacity of 102 MW, which means that with the addition of the four (4) new projects of 90 MW, the Group in the next period will almost double its installed capacity there.

The development of TERNA ENERGY Group continues uninterruptedly, with its investment plan evolving smoothly but also intensively in all areas of activity. The Group’s goal to reach 3,000 MW of total installed capacity (wind farms, photovoltaic parks and storage systems) within the next five years, stands. The Group has more than 1,300 MW in operation, under construction or ready for construction in Greece, Central and Eastern Europe. Also, additional wind projects with total capacity of more than 1,800 MW in various areas in Greece are in the phase of licensing maturity. At the same time, new photovoltaic parks with a total capacity of 1,700 MW are being planned and developed and storage systems with total capacity of about 2,000 MW are being promoted. Finally, the Group has been active in offshore wind parks, where it plans, in joint venture with OCEAN WINDS, to develop projects in the Greek seas.

Information:
Investor Relations: Aristotelis Spiliotis, tel. + 30 210 6968000, tspiliotis@terna-energy.com
Press Office: Mary Andreadi, tel. +30 210 6968000, pressoffice@gekterna.com

TERNA ENERGY: New wind farms with a total capacity of 90 MW to be developed in Poland

TERNA ENERGY further strengthens its presence in the Renewable Energy Sources market of Poland, promoting four (4) new projects with a total capacity of 90 MW. The four (4) wind farms are in the initial stage of licensing and TERNA ENERGY will mature, build and operate them in the context of its strategy for continuous expansion of its activity in the field of clean energy production.

TERNA ENERGY already operates in Poland eight (8) wind farms with a total installed capacity of 102 MW, which means that with the addition of the four (4) new projects of 90 MW, the Group in the next period will almost double its installed capacity there.

The development of TERNA ENERGY Group continues uninterruptedly, with its investment plan evolving smoothly but also intensively in all areas of activity. The Group’s goal to reach 3,000 MW of total installed capacity (wind farms, photovoltaic parks and storage systems) within the next five years, stands. The Group has more than 1,300 MW in operation, under construction or ready for construction in Greece, Central and Eastern Europe. Also, additional wind projects with total capacity of more than 1,800 MW in various areas in Greece are in the phase of licensing maturity. At the same time, new photovoltaic parks with a total capacity of 1,700 MW are being planned and developed and storage systems with total capacity of about 2,000 MW are being promoted. Finally, the Group has been active in offshore wind parks, where it plans, in joint venture with OCEAN WINDS, to develop projects in the Greek seas.

Information:
Investor Relations: Aristotelis Spiliotis, tel. + 30 210 6968000, tspiliotis@terna-energy.com
Press Office: Mary Andreadi, tel. +30 210 6968000, pressoffice@gekterna.com

TERNA ENERGY & HERON offer the first long-term Power Purchase Agreements (PPAs) in Greece

 

TERNA ENERGY & HERON offer the first long-term Power Purchase Agreements (PPAs) in Greece

TERNA ENERGY and HERON, members of GEK TERNA Group, reunite their forces, innovate and are the first to offer the long-term Power Purchase Agreements (PPAs) in the Greek market.

The two companies offer final consumers immediate access to green energy, providing the first MWhs in the market through “private” PPAs, thus opening the market of cheap electricity to both the industry and large commercial enterprises.

In this context, the first four (4) contracts have already been signed with well-known industrial and commercial consumers, concerning disposal of the corresponding RES energy quantities from October 1st, 2021. At the same time, negotiations are underway for the conclusion of similar contracts with other important groups of companies.

The offered PPAs are addressed to large commercial and industrial consumers and address their needs for reduction of energy supply cost while achieving Sustainable Development goals. They are in line with the objectives regarding the increase of the competitiveness of Greek enterprises, the further penetration of RES in the country energy mix as well as the support of the development of new RES projects through bilateral commercial contracts with final consumers.

PPAs are yet another product of the strategic cooperation of two leading companies in the energy sector, after the pioneering and innovative EN.A program. TERNA ENERGY’s projects that are under construction in combination with the successful and growing market share of HERON in the supply of end consumers, allow for a leading position in the “green PPAs” market.

TERNA ENERGY Group: Financial Results of the First Quarter 2021

 

• Consolidated sales at 94.3 million Euros – an increase of 6%
• Operating profit stabilized at the level of 61 million Euros
• New wind farms with total capacity of 30 MW in operation in Greece
• Target of 3,000 MW of installed capacity within the next five years

TERNA ENERGY Group posted an increase in turnover during the first quarter of 2021 compared to the corresponding period of 2020, while the Group’s operating profitability stabilized around last year level.

Specifically, the consolidated financial results of TERNA ENERGY for the first quarter of 2021 are as follows:

Consolidated sales amounted to 94.3 million Euros compared to 89 million Euros in the first quarter of previous year, up by 6%. Analytically:

Revenues from the electricity production division amounted to 78.3 million Euros compared to 76.2 million Euros in the first quarter of 2020, posting an increase of 2.7%. Revenues from the division of electric energy trading amounted to 11.9 million Euros compared to 8.9 million Euros in the previous period, recording an increase of 33.2%. The turnover of the construction activity of TERNA ENERGY settled at 0.9 million Euros compared to 0.5 million Euros in the previous year. Revenues from the concessions’ division amounted to 3.3 million Euros compared to 3.5 million Euros in the first quarter of 2020.

Total earnings before interest, taxes, depreciation and amortization (EBITDA)1 stabilized at 61 million Euros compared to 61.3 million Euros in the first quarter of 2020. The same trend was broadly observed in the case of adjusted EBITDA which amounted to 60.8 million Euros compared to 61.1 million Euros in the same period of 2020. Total earnings before interest and taxes (ΕΒΙΤ)1 amounted to 44.9 million Euros versus to 44.3 million Euros in 2020 higher by 1.3%. Profit before tax, taking into account the loss in US, amounted to losses of 75.5 million Euros compared to profit of 25.3 million Euros in the first quarter of 2020. Adjusted net profit accounted for 21.2 million Euros compared to 18.8 million Euros in the first quarter of 2020, posting an increase of 12.6%.

The net debt position(1) of the Group (debt minus cash & cash equivalents) at the end of the first quarter of 2021 amounted to 635.2 million Euros compared to 613 million Euros in the last quarter of 2020.

Regarding the unprecedented extreme weather conditions of February 2021 in the State of Texas, US, and concerning their impact on the Group’s business activities, the Management of the Group moved quickly from the first moments of the occurrence of the natural disaster, constantly and thoroughly informing the investment community about the impact and the estimated burden on the financial results. In this context, the Management made a provision for the recognition of an accounting loss in the consolidated financial results amounting to 98.5 million Euros, which corresponds to the outcome of the divestment of the three wind farms in Texas, USA in line with what has been assessed and disclosed in previous announcements. It is also noted that the Management decided to proceed with the particular plan of actions after thoroughly considering three possible actions: (a) Maintenance of the wind farms within the portfolio and recourse to the competent courts to initiate a legal dispute with the Hedge Providers, over the tariffs concerning the so-called “Liquidated Damages invoices” covering the period from 13 to 19 February 2021, totaling $ 179 million; (b) Finding a mutually acceptable commercial solution to the dispute with the Hedge Providers; and (c) divesting of the three wind farms in USA (Class B interests). The examination of the above three potential actions revealed that the lowest possible impact on the financial results would originate from the third solution, as the loss would be limited from $ 179 million (receivables that the company had to cover immediately) to 98.5 million Euros. In addition, this solution implies the exemption of the company from loans, equity securities assimilated to financial liabilities and financial expenses totaling $ 615 million (until March 31, 2021). It is emphasized once again that the loss related to the disinvestment from the wind farms in Texas is a non-recurring event, the consequences of which have no further impact either on the parent company TERNA ENERGY or TERNA ENERGY USA HOLDING GROUP in the US.

It is worth noting that the development of the Group continues normally, with its investment program evolving smoothly and at an intensive pace. The Group’s total installed capacity target remains at (wind farms, photovoltaic parks and energy storage systems) 3,000 MW within the next five years. In this context, the Company recently placed into operation an additional 30 MW of wind farms in Greece. The parks that will be gradually put into operation within the current year, are expected to enhance the Group’s operating profit (EBITDA) by more than 35 million Euros and net profit by more than 24 million Euros. In total, the Group constructs or has ready for construction about 400 MW of new wind farms in various parts of the country.

It is noted that the works for the PPP project concerning the integrated waste management of Peloponnese Region, Greece, started recently, as continuation to the corresponding project that is already in operation in Epirus. Also within the first quarter of the year, the Company signed a contract for the electronic ticket system of Thessaloniki, following a corresponding project that has been completed and operates in Athens.

Finally, it should be mentioned that the company is also launching a broad investment plan in floating photovoltaic and floating offshore wind farms with a total capacity of 1,800 MW.

(1) The alternative performance measures (APM) were determined in the same manner as in note 6 of the Annual Financial Report for the period 01/01/2020-31/12/2020.

Information:
Investor Relations: Aristotelis Spiliotis, tel. + 30 210 696800, tspiliotis@terna-energy.com
Press Office & Public Relations: Danai Kalantidi, tel. +30 210 6968000, dkalantidi@gekterna.com