ABO Energy has sold its Greek subsidiary, including staff and a 1GW renewables pipeline, to Helleniq Energy Holdings.
The transaction covers solar, battery and wind projects under development and will not materially affect ABO’s 2025 earnings, according to the company.
Additional payments may be triggered if projects reach future development milestones.
Managing director Karsten Schlageter said the divestment would streamline ABO’s operations and improve its focus, calling the deal a “great success” for all parties.
Between 2019 and 2023, ABO developed and sold five Greek solar parks totalling more than 100MW, four of which it connected on a turnkey basis.
Greece contributed 15% of group revenues in 2020 and 9% in 2023.
ABO will continue to provide O&M services for the completed assets but said it is refocusing project development efforts on other markets, such as Germany.
Helleniq, formerly Hellenic Petroleum, is active in seven countries and aims to reach at least 2GW of installed capacity by 2030.
Its current pipeline exceeds 6GW across renewable technologies.