In the new phase that is taking shape for the energy sector, the Group Motor Oil implements an extensive program investments amounting to 4 billion euros by 2030, forming a multi-level strategy that affects the map of the Greek and regional energy market.
The Group’s planning beyond the investment plan is organized around three main axes of development, fuel, electricity and the circular economy. At the same time, Motor Oil has already positioned itself on three dominant trends shaping the energy landscape in the coming years: the strengthening of energy security, the accelerated electrification of the economy and the transition to more sustainable solutions.
The refining activity remains the core strength and central competitive advantage of the Group. In recent years, the company has made targeted strategic investments, at a time when the European refining system in general was showing an investment lag. Thus, Motor Oil’s refinery is currently ranked among the most modern and complex in the Mediterranean, offering the Group a clear operational and commercial advantage for the next period.
More than 200,000 barrels of crude oil are processed daily at the Aghii Theodori facilities, while a network of over 1,500 gas stations in five countries operates through the AVIN and Shell brands (Coral Licensee). In parallel with the search for new opportunities to strengthen the traditional activity, the Group invests in electrification but also in a new generation of energy products, from alternative fuels and biofuels to hydrogen technologies, preparing the ground for cleaner movements and transport.
The electricity sector is emerging as one of the Group’s most dynamically developing pillars. The electricity market is at a pivotal point of transition and Motor Oil has established a presence through two distinct but complementary development platforms.
The first platform is MORE, a subsidiary that has developed into a regional player in renewable energy sources, with a portfolio of mainly wind projects with a total installed capacity of 847 MW. MORE is steadily investing in wind and solar farms, as well as energy storage solutions that enhance the stability of the national grid. The plan envisages that by 2030 the installed capacity will exceed 2 GW and EBITDA will exceed 250 million euros.
The second platform is the recently announced merger between Heron and nrg that creates a new integrated energy provider. The new scheme will combine a rapidly growing customer base of over half a million customers and 1.5 gigawatts of available electricity generation from modern plants. The group also includes THERMOELEKTRIKI KOMOTINIS, which operates the most efficient electricity production unit from natural gas in Greece, which was put into commercial operation for the first time in 2025.
With this scheme, a balanced and fast-growing presence is formed in the entire spectrum of electricity, from clean energy production and natural gas plants to the supply of electricity to households and businesses. The combination of these activities enables the Motor Oil Group to strengthen its organic growth and claim a leading role in the country’s energy transition.
In the third pillar of the circular economy, the Group is building an integrated portfolio through specialized subsidiaries, with the aim of managing ever greater amounts of waste and residues, maximizing resource recovery and producing new products with a lower environmental footprint. These moves complement the Group’s overall strategy for 2030, which is based on strengthening competitiveness, diversifying revenue sources and transitioning to a more sustainable energy model.