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Domiki Kritis Invests In Renewables

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The Crete-based construction company Domiki Kritis (DOMIK) plans to construct and run a hybrid power production park in Crete which will combine solar and wind energy.

 

The company was already applied for licensing to the Regulatory Authority for Energy. The hybrid park will have a power capacity of 12MW and will be constructed in the area of Voskero Kroussona, in Heraklion, Crete.

 

The investment will reach 45 million euro and will be realised through the 100% owned subsidiary Eoliko Voskero SA. The energy produced by wind turbines will be stored for use during peak hours.

Domiki Kritis already runs a 5.9MW wind park in the same location for three years now, which provides 1.3 million euro revenues annually.

 

A second 5MW wind park, currently under construction will be operative in 2009. This is developed by the subsidiary Eoliko Koukoulonas SA, 50% owned by Domiki Kritis (50%) and by ATESE SA (50%).

 

Last autumn, Domiki Kritis concluded a cooperation agreement with French Eolfi to jointly develop five wind parks with a total capacity of 148MW.

 

Domiki Kritis is also active in real estate. Its subsidiary, DIA SA, in which it holds a 51% stake, will construct a commercial complex on a 1,250 sq m property on EOK Street, Heraklion. DIA will buy the adjacent 800 sq m property in order to extend the aforementioned project.

 

Another subsidiary of Domiki Kritis, Panorama Malion SA, in which it holds a 40% stake, owns a 164,000 property in the municipality of Malia.

 

The company also cooperates with Haragionis group on the tender for the reshaping and upgrading of Heraklion port. J&P Avax, Lamda Development and Sirios SA are also running up for this tender which will concede the management of Heraklion port for 30 years.

 

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