People’s Energy Renewables announced today an agreement with MORE (a subsidiary of Motor Oil Group) to acquire operating wind farms and photovoltaic parks under development.
The deal involves the acquisition of six wind farms in operation, consisting of 26 wind turbines with a capacity of 107.1 MW in the following areas:
– Kellas Wind Farm in Florina, with a total capacity of 43.2 MW
– Wind farm Opountia in Fthiotida, with a total capacity of 3.5 MW
– Tsamadorachi Wind Farm in Fokida, with a total capacity of 22 MW
– Kato Lakomata wind farm in Phocis, with a total capacity of 19.2 MW
– Mikrovouno wind farm in Fokida, with a total capacity of 9.6 MW
– Psaromita Wind Farm in Fokida, with a total capacity of 9.6 MW
At the same time, PPC Group agreed to acquire the remaining 51% of MORE’s stake in the share capital of a total of 12 Special Purpose Vehicles (SPVs) which are developing an equal number of photovoltaic parks in Greece, with a total nominal capacity of 1.175 MW, in which the PPC Group already held 49%. Now, PPC Group will own 100% of these photovoltaic projects.
“The agreement to acquire the new wind farms and photovoltaic plants is another step in the development of the PPC Group’s RES portfolio, both organically and through partnerships and acquisitions, in Greece and Southeast Europe. This move contributes to the PPC Group’s goal of 19 GW of Renewable Energy projects by 2030,” PPC said.
