Hellenic Petroleum buys 37.2 MW of wind parks in Greece's Evia

Wind farm in Greece. Author: Gamesa. License: All Rights Reserved.

December 6 (Renewables Now) - Greek energy group Hellenic Petroleum (ELPE) on Friday announced the acquisition of two wind farms totalling 37.2 MW at the island of Evia.

The value of the transaction is estimated at EUR 85 million (USD 95.9m).

The subsidiary of ELPE’s renewables arm ELPE Renewable Wind Parks of Evia Monoprosopi SA has signed binding contracts to take possession of project vehicles Wind Energy Evo and Wind Energy Pears SA. The two entities own the target wind farms in South Evia, which have been generating electricity since October 2018 and December 2019, respectively.

The bundle includes a six-turbine wind farm in Trikorfo, Karystos, with a power generation capacity of 19.2 MW and another six-turbine park of 18 MW located at Megalo Vouno in Karystos. The two plants have a combined output that is enough to cover the electricity consumption of around 34,000 homes per year.

The acquisition was carried out in line with Hellenic Petroleum’s strategy to develop renewable energy projects, the parent company said. PricewaterhouseCoopers Business Solutions SA was its exclusive financial advisor, while Karatzas & Associates acted as legal counsel.

(EUR 1.0 = USD 1.129)

More stories to explore
Share this story
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription