Two major players in the renewable energy sector have reached a significant agreement for the sale and supply of solar-generated electricity, sources told Phileleftheros.
HAFFNEVE HOLDING LIMITED, owned by the Zorpas Group, has agreed to sell 23 megawatts of photovoltaic parks to Bioland, a key producer and supplier of green electricity. The deal is pending approval from the Commission for the Protection of Competition, a standard procedure for transactions of this scale.
The total installed capacity from renewable sources in Cyprus currently approaches or exceeds 900 megawatts.
Once finalised, the agreement is expected to strengthen Bioland’s position in the soon-to-be liberalised electricity market, while allowing HAFFNEVE HOLDING LIMITED to focus on developing and operating new solar farms to meet the growing energy demands of its factories and retail outlets across the country.
