RF ENERGY SA, subsidiary to FG EUROPE SA by 40%, announces its intention to withdraw its interest in participating in the second round of the competition for the conversion of two cane refinery plants of the company HELLENIC SUGAR INDUSTRY SA into bio-ethanol production units. In the long period preceded, and lasted from commencement of the competition process and the finalizing of the legal and regulatory framework for bio-ethanol production in Greece, the company?s Management went ahead with reevaluation and adjustment of its business development plan, focusing its interest and allocating funds in the development and management of wind and hydro-electrical projects that better suit its business goals at its current phase of growth. RF ENERGY SA operates in the energy sector through its subsidiaries, focusing on Renewable Energy Sources. The company?s operations include development and management of energy projects, and currently its business portfolio includes the development and management of wind parks and hydro-electrical plants, of 28.615 MWs of total installed power.