IKTINOS HELLAS S.A. has completed the buy-out of PRIVATE ELECTRICITY CORPORATION SA under the trade name IDEH S.A. following the go-ahead given by the Regulatory Authority for Energy to change its body of shareholders.
IDEH S.A. has a license to generate electricity and set up a 19.8 MW wind park at the Mavrovouni location in the prefecture of Drama, including a license to generate electricity for an 8 MW wind park at the Synora location in the prefecture of Drama.
During the Extraordinary General Meeting of IDEH S.A. that was held on 10/1/2008, it was resolved:
a) To appoint a new Board of Directors with:
Evangelos Chaidas as President & CEO,
Ioulia Chaidas, as Vice-president,
Anastasia Chaidas, as Member
Lydia Chaidas, as Member.
b) To increase the company’s share capital by means of cash payment (132,000 €) and to issue 2,200 new nominal shares of nominal value 60 € each. Following the said increase, the company’s share capital will amount to 300,000 €, divided into 5,000 nominal shares of nominal value 60 € each.
IKTINOS HELLAS S.A. will cover this share capital increase by 100%.
Furthermore, an announcement was made according to which IDEH S.A. is expected to increase its Equity within the year 2008, by 6,600,000 € in order to promote the implementation of the investment plan to set up a wind park in Drama.
The first 19.8 MW wind park at Megalovouni is expected to become operational by 2009, whereas the second 8 MW wind park at Synora is expected to be put into operation by 2011.
In addition to the above, IKTINOS HELLAS S.A., as part of its plan to reinforce its presence in the Renewable Energy Sources sector and given its exclusive collaboration with an expert technical consultant firm, has scheduled the setting up of new wind parks with an installed capacity of 150 - 200 MW within the next three years. These new projects are being systematically evaluated, whereas, a great number of areas across Greece are being measured as regards their wind potential according to DIN-EN ISO/IEC