New global venture for the utility scale solar power market

METKA S.A. is pleased to announce the establishment of the new affiliated company METKA EGN, as a result of the joint venture with EGNATIA Group, aiming to further strengthen the company’s portfolio of activities as well as its positioning on the rapidly growing solar power market.

METKA holds 50,1% of the joint venture and the financial results of METKA-EGN will be fully consolidated.

Through this joint venture, the newly established company METKA EGN will combine the solar PV EPC and development expertise of EGNATIA with the overall power sector know-how, geographical presence and organizational strength of METKA, to be a new leader in the solar power sector on a global level.

METKA EGN will be strongly focused on serving major international clients, primarily in the markets of Europe, Middle East, Africa and Latin America. Fully owned subsidiaries of METKA EGN have been established in the United Kingdom and Cyprus, with further expansion to key markets in Latin America and the Middle East to take place within 2015.

As a result of its existing track record and strong pipeline of new projects it is anticipated that the capacity installed by METKA EGN will reach 500MW within Q1 2016.

The first income statement of this new, very promising subsidiary will be consolidated in METKA Group full year 2015 financial results.  

 

About METKA

METKA is a leading international contractor for specialized large-scale projects, providing the complete range of Engineering-Procurement-Construction (EPC), and industrial manufacturing group, active within the Energy, Infrastructure and Defence sectors.

METKA is a listed company and has consistently posted strong financial results over recent years, achieved as a result of the company’s successful project execution record and international growth. METKA is a member of MYTILINEOS Group, the leading independent energy producer in Greece and a strong, competitive European industrial group in the sectors of Energy, Metallurgy and EPC Projects. Further information is available at: www.metka.com.

 

About EGNATIA

EGNATIA was founded in 1989 as an international EPC contractor and industrial manufacturing group, active in renewable energy, telecom networks implementation and private sector projects. In the EPC sector, EGNATIA is present since 1989 in 7 countries, through its affiliated companies, and has carried out projects for well-known customers across Europe, the Middle East and Africa, seeking today to expand its activities in Americas. In the industrial sector, the company has been active with 3 medium-size industrial units that export high value added products for major global industrial customers.

 

Press Contact: Ms Elli Gardiki
MYTILINEOS Group Senior Communication Officer – Press Office
Tel. 210-6877489 | Fax 210-6877400 | E-mail elli.gardiki@mytilineos.gr
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