HELLENiQ ENERGY: Turning the page in Cyprus with the launch of EKO Energy
Commercial activity is underway in the supply of electricity from renewable sources.
HELLENiQ ENERGY has announced the launch of EKO Energy in Cyprus, which will operate in the field of supply and distribution of green electricity from renewable sources. EKO Energy endeavors to fulfill all energy requisites for designated commercial and industrial consumers, as the first comprehensive and vertically integrated energy provider in Cyprus, leveraging the expertise and reliability of HELLENiQ ENERGY.
At an official event held in Nicosia with the honored presence of the President of the Republic of Cyprus, Mr. Nikos Christodoulides, HELLENiQ ENERGY unveiled the outcomes of its strategic initiative, "VISION 2025," aimed at facilitating the energy transition. Additionally, the company shared its business strategies, designed to significantly advance Cyprus's targets of carbon footprint reduction, enhanced energy security, and increased autonomy. Guests at the event included representatives of the Cyprus Government, the members of the Board of Directors and the Management of HELLENiQ ENERGY, as well as the executives of EKO Cyprus.
In recent years, HELLENiQ ENERGY has played a leading role in the effort for energy transition, with a firm commitment to the "VISION 2025" initiative. The company has embarked on a journey of modernizing its conventional operations in fuel refining and trading, prioritizing the reduction of its carbon footprint, expanding into new energy markets and developing an extensive portfolio in renewable energy sources and green energy, in Greece and abroad.
In Cyprus, HELLENiQ ENERGY is demonstrating an unwavering dedication by continually investing in the evolution of its operations. The launch of EKO Energy stands as a testament to this dedication, as it leads the transition towards cleaner energy alternatives and providing comprehensive energy solutions tailored to meet the needs of consumers. EKO Energy has already started its commercial activities and is providing its services to industrial and commercial customers. Promoting its strategic plan, thus far, the company has secured contracts amounting to a total consumption of 60 GWh and endeavors to sustain its dynamic expansion. This ongoing growth aims to foster a more competitive market landscape, consistently prioritizing consumer interests. Central to its strategy lies the vertical integration of operations with privately owned parks, providing customers with enhanced flexibility and efficient energy management solutions.
Mr Nikos Christodoulides, President of the Republic Cyprus, stated, “It is with great pleasure that I am participating in today’s event, the inauguration of EKO Energy as a green electricity supplier. A company (see EKO CYPRUS LIMITED) with successful operations and presence in fuel trading as well as being a multifaceted company offering social contribution. I would like to mention that the expansion of your work (see HELLENiQ ENERGY) in Cyprus, your new investments in the Cypriot market are for us one of the most important votes of confidence for the Cypriot economy and I would like on behalf of the State, on behalf of all the Cypriot people, to thank you.”
CEO of HELLENiQ ENERGY, Mr. Andreas Shiamishis emphasized, “The establishment of EKO Energy marks a significant milestone in our journey as we strive to evolve our presence in Cyprus into a comprehensive, vertically integrated energy provider. Committed to supporting the nation’s transition towards sustainability we are dedicated to advancing energy autonomy and minimizing our carbon footprint. At the same time, we envision enhancing competitiveness with the energy sector, resulting in tangible benefits for consumers and the creation of specialized employment opportunities, thus fostering added value for the nation.
Cyprus, strategically chosen, serves as our initial focus, but our ambitions extend beyond its borders. We are meticulously planning our venture into international markets, with forthcoming announcements emphasizing our commitment to novel energy solutions and renewable energy sources (RES)”.
About HELLENiQ ENERGY
HELLENiQ ENERGY, formerly known as HELLENIC PETROLEUM, is a leading energy integrated
group in Southeast Europe. The company was founded
in 1998 and operates in six countries, managing a portfolio that spans the
entire energy value chain. In 2023, the
Group's Operating Turnover amounted to €12.8
billion, with a Comparable EBITDA of €1.237 million and total investments
reaching €291 million.
HELLENiQ ENERGY is
driving energy transformation in all its markets,
embracing innovation and developing new initiatives. The Group’s main objective
is to become the leading provider of low-carbon emission energy solutions,
substantially contributing in addressing the causes and impact
of
climate change.
HELLENiQ ENERGY is active in energy production, supply and
distribution, increasingly shifting its focus towards new,
cleaner forms, as well as Renewable Energy Sources (RES). The Group’s diverse portfolio
covers the entire oil and natural gas value chain, including the refining,
supplying and marketing of gas and petrochemical products, the research,
hydrocarbon exploration, and fuel sales, while also rapidly advancing in RES.
Through joint ventures and participation, the company holds an important
position in generating electricity and in the supply of natural gas and
electricity.
HELLENiQ
ENERGY places people at the center of its business strategy, with its main
priority being ensuring long-term access to sustainable energy for all. As a
key investor, employer, and active member of society, the Group has a
significant socioeconomic impact in the countries where it operates and aspires
to be a consistently reliable social partner.
