Greenwood Energy, the North American renewable energy division of Libra Group, and Biosar Energy, the solar division of Ellaktor Group, have set up a joint venture company called Greenwood Biosar.
The joint venture brings together Biosar’s EPC capabilities with Greenwood Energy’s existing alternative fuel and power project development capabilities. Furthermore, it is said to complement Greenwood Energy’s existing operations and client base while increasing Biosar's footprint throughout North America.
“Greenwood Energy's joint venture with Biosar will further strengthen our position as a driver of clean energy projects in North America as we add solar EPC to our core capabilities,” said Greenwood Energy's interim CEO, Camilo Patrignani. “Greenwood Biosar will offer a competitive solution to customers, both utility-scale and medium-scale, looking for a turnkey solution to build solar capacity.”
Greenwood Biosar operations in North America will include: preliminary design, technical and implementation studies; permitting, engineering and construction; integrated facility management system (IFMS) for PV plants; and operations and maintenance.
Biosar is an international company and has a particularly strong presence in Mediterranean Europe where it has nuermous PV sites across Bulgaria, Greece, Italy and Romania. The company’s total installed capacity is expected to surpass 300MW by the end of 2012. Biosar’s extensive project experience is expected to provide the joint venture with a competitive advantage as it begins to pursue EPC contracts throughout North America.