Shenhua on Thursday signed an agreement to buy a 75 pct share of four wind farms developed by the Copelouzos Group, as part of a Development Agreement signed in May 12, 2017 in Beijing between the two groups. The agreement envisaged cooperation in the sectors of green energy and environmentally upgrading power production units in Greece and other countries.
More specifically, through its subsidiary Shenhua Renewable Co Ltd, Shenhua purchased 75 pct of shares in four wind parks developed by Copelouzos Group, currently under operation or construction. This investment is the first by a Chinese company in the wind power sector in Greece. This cooperation will expand to other wind farms developed by Copelouzos Group.
Shenhua also signed a memorandum of understanding with the Public Power Corporation (PPC) and Copelouzos Group to become a partner in the joint company between PPC and Kopelouzos, PPC Solar Solutions SA.
Shenhua Group Corp Ltd is the largest coal producer in the world and one of the largest producers of electricity in China.
Copelouzos is one of the largest investment groups in Greece, with activities in energy and infrastructure.