Macquarie Asset Management has reached financial close on a deal to acquire a 50% stake in Enel Green Power Hellas from Enel Group for a total equity consideration of approximately €250m.
Enel Green Power Hellas is a leading renewable energy developer and operator in Greece, with a 566MW portfolio of onshore wind, solar, and hydropower projects in operation or under construction across its mainland and islands.
The portfolio comprises 59 operational sites totalling 482MW of installed capacity powered by wind, solar and hydropower, and six solar schemes under construction with an overall capacity of 84MW.
Its operational portfolio is the third largest in Greece. Enel Green Power Hellas has also identified a pipeline of new development projects, across wind and solar and is expanding into innovative storage and hybrid solutions.
Macquarie’s specialist Green Investments team will further support the business’ ambitions through its global expertise and investment capabilities, it said.
Enel Green Power Hellas has a growing professional team with long-standing experience in the Greek renewable energy market, industrial knowledge and in-house capabilities to take projects swiftly from development through to construction and operations, added Macquarie.
“The Greek market is rapidly accelerating away from fossil fuels and now holds huge potential in helping to accelerate Europe’s decarbonisation efforts,” said managing director at MAM Green Investments Eric Bjonerud.
“We are excited to announce this new investment and partnership with Enel – supporting the delivery of an ambitious pipeline of renewable energy projects, embedding innovative green technologies in the grid, and supporting Greece’s energy transition.”
The transaction follows its acquisition of a 49% stake in Hellenic Electricity Distribution Network Operator in 2022.
The latest deal has now reached financial close and was previously announced by Enel in July 2023. The terms of the transaction have not been disclosed.