Greek developer PPC Renewables has acquired the 216MW Alexandroupoli offshore wind project off Greece.
The company has completed the deal by agreeing the buy out shareholders Kopelouzo and Samara Groups.
The project has a production licence and falls under local legislation as a pilot scheme.
Hellenic Management Company of Hydrocarbons and Energy Resources (EDEFAP) has also already issued a research licence covering the marine area as part of the country’s climate and energy plan.
PWC acted as financial advisor on the deal and the Byza–Katrinakis firm as legal advisors.
PPC Renewables chief executive Konstantinos Mavros said: “This agreement is another strategic move for PPC Group, an important one step for the development of offshore wind farms in Greece, and a confirmation of our determination to achieve a long-term, sustainable and socially beneficial growth.
“Our country, with significant potential in the field of renewables energy sources, it needs partnerships that will strengthen the local community, will harness local energy resources and provide sustainable development.
“I am confident that this collaboration will prove to be absolutely successful, adopting and combining the best practices, know-how and experience of both parties, and leading us to a common future of environmental protection and production sustainable energy for our country”.