Greek renewables developer Faria Group and French private equity fund Omnes Capital set up a joint venture company – Faria Renewables. It should develop a renewable portfolio of at least 5 GW. The portfolio should include solar, onshore and offshore wind, energy storage and green hydrogen assets, with the goal of becoming a leading independent electricity producer.
Faria Renewables is expected to build up a platform of over 350 MW of assets in operation and 1.5 GW of projects under licensing and construction in Greece within the next four to six years. The new company has already acquired its first asset – a 20 MW solar project in central Greece and is considering more acquisitions. The solar power plant should be commissioned in the first quarter of 2024.
Faria Renewables is owned by Faria Group and Capenergie 5, Omnes Capital’s fifth-generation renewable energy investment fund, which last month raised 800 million euros in its first closing. Omnes has a majority stake in the joint venture.
