In its first investment in the power generation sector RES (renewable energy sources) progresses Lambda Development, as it signed an agreement to acquire 20% of R Energy 1 Holding, reserving the right to acquire an additional share of 30.1%, i.e. up to 50.1% of its authorized capital. This move by Lamda Development is part of its strategy to enter the renewable energy sector and green infrastructure in general, where investments totaling 500 million euros are planned until 2026.

Thanks to such investments, the company will actually also become an electricity producer, selling, for example, electricity. directly feed “clean” energy into the system and thus offset the costs of electricity and heating/cooling of their properties in Greek and other building infrastructures such as, for example. its malls. The move is intended to effectively “protect” Lamda from conditions like the current one where it has to manage the high operating costs of its properties due to the high cost of electricity. Considering that Lamda’s needs will multiply in a few years, when the first large buildings in Elliniko are completed, it becomes clear that investing in renewable energy is a logical choice. In addition to reducing energy costs, these investments also help reduce the company’s carbon footprint and improve its ESG performance.

Acquired 20% of R Energy 1 Holding, retaining the right to acquire an additional 30.1%.

In this context, using the first funds from the EUR 230 million green bonds issued last July, Lamda Development will invest the amount of EUR 5 million for the direct acquisition of 20% of R Energy 1 Holding, while an additional EUR 10 million will be provided through cover Lamda Development a €10 million convertible bond issue with a maturity of three years to be issued by RES. Upon conversion of the said loan, Lamda (through its subsidiary Lamda Energy Investments) will be entitled to increase its stake in R Energy 1 Holding to 50.1%.

The said company is an extension of the Roka family’s presence in the field of renewable energy and has a portfolio of 80 photovoltaic parks with a capacity of 44 MW, and is also developing a wind farm with a capacity of 16.4 MW. By 2023, the installed capacity of R Energy 1 Holding will reach 60.4 MW compared to the current 19.4 MW. In the next three years, this figure will increase to 140 MW, as it is planned to develop additional renewable energy projects, as well as energy storage projects. In fact, the company is on the verge of selling its shares on the E.NA Plus of the Athens Stock Exchange, while the possibility of listing on overseas European stock exchanges is being explored.