Libra Group Consolidates European Renewable Energy Interests Under EuroEnergy

July 24, 2024

[July 24, 2024]  — Libra Group, a privately owned global business group whose subsidiaries own and operate assets in nearly 60 countries, has announced the consolidation of its North European biogas energy subsidiary, formerly known as Convergen Latvia, into its pan-European renewable energy subsidiary, EuroEnergy.

The move follows the continued growth of EuroEnergy’s renewable energy footprint, which is focused on solar, wind, and battery storage. Established in Greece by Libra Group in 2007, EuroEnergy’s portfolio encompasses Greece, Romania, Croatia, Poland, and now Latvia. Since its inception, EuroEnergy has completed in excess of €1 billion in transactions, with 600 megawatts (MW) developed through nearly 180 projects. Today, the company has a combined generating capacity of over 110 MW and a pipeline of approximately 640 MW under development across Europe.

With the addition of the Latvian energy portfolio, including a team of over 20 professionals, EuroEnergy adds expertise in biogas, including three biogas facilities near Jelgava, Nica, and Cesvaine in Latvia. Produced through anaerobic digestion or fermentation of biodegradable materials, the biogas is used to generate electricity sold to the national grid.

To lead the newly consolidated European portfolio in its next phase, Antonis Menegas, former CEO of EuroEnergy and currently one of Libra Group’s Executive Vice Presidents of Energy, has been reappointed as CEO of the enlarged EuroEnergy. Theofanis Mermigkousis, previously EuroEnergy’s CEO, will become the Chief Operating Officer, overseeing the company’s team, operating projects, and robust pipeline.

Antonis Menegas, CEO of EuroEnergy, said, “Theofanis’s leadership over the last two years has laid the foundation from which EuroEnergy can now advance multiple sectors of the renewable energy economy.” He continued, “We look forward to advancing Europe’s clean energy future through a single, integrated company with the addition of biogas energy to our expertise in solar, wind, and energy storage.”

EuroEnergy is one of three Libra Group renewable energy companies comprising a portfolio in excess of 4 gigawatts (GW) of projects owned, developed, or pending development in 10 countries. These include solar, wind, battery storage, and biogas projects. Other Libra Group renewable energy companies include Greenwood Energy, which focuses on utility-scale distributed generation projects in Latin America, and Greenwood Sustainable Infrastructure (GSI), which specializes in utility-scale solar energy and battery storage projects in North America.

About Libra Group

Libra Group is a privately owned, global business group encompassing 20 businesses predominately focused on aerospace, diversified investments, hospitality, maritime, real estate, and renewable energy. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale. For more information, visit www.libra.com.

About EuroEnergy

EuroEnergy is one of the renewable energy subsidiaries of Libra Group. With a pan-European portfolio focused on solar, wind, battery storage, and biogas, the company is dedicated to advancing Europe’s clean energy future. Established in Greece by Libra Group in 2007, EuroEnergy’s portfolio spans Greece, Romania, Croatia, Poland, and Latvia, supported by a seasoned team of approximately 50 employees. Since its inception, EuroEnergy has completed in excess of €1 billion in transactions, developing 600 megawatts (MW) through nearly 180 projects to date. As of July 2024, it has a combined generating capacity of over 110 MW and a pipeline of approximately 640 MW under development across Europe. For more information, visit www.euroenergy.com.

Share this page