Greek petroleum refiner Motor Oil (Hellas) has agreed a deal to acquire a portfolio of domestic wind farms totalling 240MW.
The company said the transaction is estimated at €123.5m and will be “realised through” holding company Teforto Holdings, which manages the fossil fuel player’s renewables assets.
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The vendor was not disclosed although six companies were involved, said Motor Oil.
In total, 12 projects have been acquired in central and northern Greece.
Most of the projects, equalling 220MW of capacity, are operational while a single 20MW site is in construction.
“The completion of the transaction is subject to the approval of the Competition Commission,” added the Greek outfit.