French group Vinci is expanding into the energy efficiency market in Greece. The company, the largest shareholder of the Rion-Antirion Bridge, in central Greece, and the Olympia Odos motorway, is seeking the first project of this type in the country.
According to market officials, Vinci has teamed up with Intrakat in a tender for street lighting launched a few days ago by regional authorities in Epirus, northwestern Greece, with a budget of more than 8 million euros.
It is not clear whether the partnership with Intrakat will be extended to other energy efficiency projects as more large tenders in this field are expected in coming months. The French company has an open-door policy in Greece after working closely with construction group Ellaktor for several years. Vinci, along with the Mytilineos group, is also interested in the Egnatia Odos concession deal but has stopped short of submitting a bid for Line 4 of the Athens metro, prepared with GEK TERNA.
The Epirus contract is also being sought after by Mytilineos, a TERNA-Fotagon joint venture, Greenesco (that belongs to PPC Renewables and Attika bank, construction company Triton and a joint venture comprising of Themelis that includes Italy's Pagano & Ascolillo. After the first round, bidders will take part in the process of deciding the terms of the Private Public Partnership agreement.
Vinci does business in energy efficiency, constructions, and other infrastructure projects via its subsidiary Vinci Energies, which reported revenues of 12.6 billion euros in 2018. Almost 30 percent of revenues came from industrial installations, such as building production lines, while another 30 percent came from energy projects.
In the first nine months of 2019, Vinci Energies showed turnover of 9.8 billion euros, with the group's total revenues reaching 34.86 billion euros. Via Vinci Energies, the French group, has completed a series of buyouts in the last two years including Primeline Utility Services in the US, Wah Loon Engineering in Singapore and Germany's OFM group. Just over half of Vinci Energies' revenues come from international operations.
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