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Greece

Greece

Marble quarry firm invests in wind power development with 19.8 MW project

The latest entrant to the Greek wind power market is the Athens-based Iktinos Group, which quarries and sells marble, via its wholly-owned subsidiary, IDEI. The company's first project will be a 19.8 MW project at Megalovouni in the Drama region of north-east Greece, scheduled for commissioning by March 2010. Vestas will deliver 11 of its V90-1.8 MW turbines later this year and has also signed a three-year service and maintenance contract. Iktinos garnered EUR 12 million last year in a capital raising exercise to finance the project. It has a further 33 MW going through the consenting process and expects to submit applications for another 20 MW in the coming months. It is aiming to build 150-200 MW of wind capacity within the next three years.

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