Elsewedy Electric enters agreement to acquire 63.6 MW RE projects portfolio in Greece
Elsewedy Electric has entered into a Share Purchase Agreement with R.F Energy (a unit of F.G. Europe) to acquire 100% of the share capital of three wind and on hydroelectric energy companies in operation in Greece for a total consideration of EUR55 million (US$61.59 million).
The deal will be funded by a ring-fenced project finance facility from National Bank of Greece (NBG) covering up to 75% of the value, with the balance to be paid in equity. The completion date is expected to be on or before June 28, 2019. The transaction is subject tothe normal terms and conditions for completing similar transactions.
The assets to be acquired are distributed between wind parks Aioliki Kilindrias SA, Kallisti Energeiaki SA and Aioliki Aderes SA, and one mini hydro-power plant Hydroelectriki Achaias SA.
The assets operate under a power purchase agreement (PPAs) with the public utility Diacheiristis Ananeosimon Pigon Energias Kia Eggyiseon Proelefsis SA (DAPEEP). The PPAs have tenors of between 12 and 20 years.
Country updates
-
-
June 05, 2019
Greek PPC secured bond loan agreement for 87 MW wind and HPP projects
The PPC Renewables SA has signed a bond loan agreement worth of EUR17.5 million (US$20.2million) for the development of 87 MW of wind and hydropower plants (HPP) in Greece. The parent compa...
Read more -
May 14, 2019
Juwi secures 204 MWp Kozani solar project in auction
Juwi Hellas, the Greek unit of German project developer, Juwi AG, secured the 204 MWp Kozani solar project in auction. The project was awarded by the Greece’s Regulatory Authority for Energy (RA...
Read more -
May 09, 2019
Greece awards PPA deal to EDF Group for 60 MW Loutsa solar project
EDF Renewables in Greece has been awarded a long-term Power Purchase Agreement (PPA) for a 60 MWp solar photovoltaic project, following a mixed Renewable Energy Sources (RES) auction held by the Regul...
Read more -
February 13, 2019
EDP Renovaveis awarded 20-year CfD for its 15 MW wind project in Greece
EDP Renovaveis SA has been awarded a 20-year contract for difference (CfD) for its 15 MW Aerorrachi wind farm located in Northern Greece. The project is expected to commence oper...
Read more -
February 08, 2019
Merging process commenced with EL.TECH. ANEMOS SA and ELLAKTOR SA
The Board of Directors of ELLAKTOR SA has commenced the process for the merger by absorption of its subsidiary EL.TECH. ANEMOS SA after resolving that the merger process setting of 31/12/201...
Read more
