What does the sale of Volterra mean for AVAX?

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Significant profits but also focus on new activities with attractive returns, marks the sale of Volterra RES portfolio to PPC Renewables by AVAX.

According to the management of the construction group, “in order to maximize the benefit of its shareholders, the AVAX Group has as a regular practice the disinvestment with attractive valuations from mature activities and the reinvestment in new activities with corresponding returns (such as indicative SDI opportunities in which the Group will play a leading role in the near future).

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Also from the sale of Volterra RES portfolio, the Group will have profits of approximately 40 million euros in the first half of 2022.

At the same time, Volterra continues its unwavering course throughout the energy spectrum. Specifically, it continues to develop a portfolio of approximately 100MW, which consists of RES projects (wind, photovoltaic and small hydroelectric) as well as energy storage projects (autonomous systems and hybrids), in production licenses and other licensing stages. In addition, it actively participates in other energy projects such as the electric drive with the development of a charger network in various selected areas of Greece but also in energy saving projects (ESCO) “.

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Finally, Volterra continues its commercial activity in the field of retail, as well as in the field of wholesale electricity and gas. In addition, it is in the process of expanding its business through the conclusion of PPAs contracts.

Eleni Botas

Source: Capital

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