- The new name and corporate identity of the company with joint shareholders, Enel SpA and a fund managed by Macquarie Asset Management was presented.
- With its new structure, Principia will continue to lead energy developments, help accelerate the country's green transition and expand its business into innovative solutions such as storage and hybrid projects.
Principia is the name of the new company in the renewables industry, established by shareholders, Enel SpA and a fund managed by Macquarie Asset Management, having previously begun operations in 2008 as part of Enel Green Power in Greece.
The new name and corporate identity of Principia was officially presented at an event for stakeholders, institutional and operational partners of the company, in the presence of its main shareholders, the Minister of Environment & Energy, Theodoros Skylakakis and the Minister of Development, Konstantinos Skrekas.
With a vision to create a sustainable future and a mission to accelerate the energy transition towards a green and clean model of renewable energy production, Principia will be an example of a partnership that creates value far beyond the sum of its parts.
Principia is here to establish new principles for energy production, with absolute respect for nature and completely friendly to mankind, just like the work "Philosophiae Naturalis Principia Mathematica”, by Isaac Newton, which set the fundamental principles of physics and inspired the world’s renaissance and forged the path to progress.
The emblem of the new company is a circle which depicts perfection and symbolizes eternity, completeness, unity and continuity. For Principia, the circle is the point from which energy emanates to give life and meet every human need, but also the planet that we must protect with all our might. With a firm commitment to environmental sustainability, sustainable development and clean energy solutions centered on mankind, today Principia is laying the foundations for tomorrow's energy. Driven by new knowledge, the new company will continue to lead the country’s energy transition by developing its projects and expanding its focus towards innovative technologies, such as battery solutions, that will shape the future of renewables.
The CEO of Principia, Mr. Aristotelis Chantavas, said: “Progress requires new knowledge and a willingness to question even processes that operate successfully, in order to create something new that will bring us even closer to the future. For more than 15 years we have written our own chapters of special history in Greece, being at the cutting edge of the energy transition that today is a necessity and a strategic goal throughout Europe. We are now moving forward as Principia, even stronger and more decisive, inspired by the great heritage of the company, guided by our principles and values and aiming to make Greece's energy transition a reality, focusing on people and local communities. Principia envisions a future in which human activity is powered by clean energy from renewable sources, ensuring not only environmental sustainability but also our energy security and independence.”
The representatives of the shareholders also spoke about the importance of this business development. Specifically, Eric Bjonerud, President of the Principia BoD and Managing Director at Macquarie Asset Management, said: “As the world’s largest infrastructure asset manager, we’re committed to actively supporting businesses we’re invested in to grow and deliver positive outcomes for the communities in which they operate. Principia is no exception to this. The team have been at the forefront of renewables deployment in Greece for more than 15 years and we’re excited to be embarking on this next chapter together. By combining our capabilities, we aim to help Principia deliver its ambitious pipeline of projects, and ultimately, help support Greece’s decarbonisation ambitions” while Roberto Deambrogio, Executive Vice President at Enel, said: “We are thrilled to embark on a highly sustainable journey with MAM under this new corporate identity, expressing a growing and evolving company which is playing a pivotal role in the energy transition in Greece. Through Principia, we will work relentlessly for the benefit of all of our stakeholders in this country and of its green footprint as a whole.”
With 59 wind, solar and hydroelectric plants in operation and 7 solar parks under construction, Principia produces green energy with an installed capacity of 577 MW, enough to cover the annual needs of more than 300,000 households.
You may learn more about Principia by visiting www.principia-energy.com, as well as the company’s profiles on LinkedIn and Facebook.
