Macquarie Asset Management (MAM) has successfully concluded a financial deal to acquire a 50% stake in Enel Green Power Hellas from Enel Group, entailing an equity consideration of approximately €250 million. Enel Green Power Hellas, a prominent renewable energy developer and operator in Greece, possesses a robust portfolio comprising 566MW of onshore wind, solar, and hydropower projects, both operational and under construction across the mainland and islands.
The operational portfolio, ranking as the third-largest in Greece, encompasses 59 sites with a cumulative installed capacity of 482MW derived from wind, solar, and hydropower sources. Additionally, the company has six solar projects currently under construction, totaling 84MW in capacity. Beyond its existing ventures, Enel Green Power Hellas is strategically advancing into innovative storage and hybrid solutions, with a pipeline of new projects in wind and solar identified for future development.
Macquarie's specialist Green Investments team is poised to complement these ambitions by leveraging its global expertise and investment capabilities. Managing Director at MAM Green Investments, Eric Bjonerud, expressed enthusiasm about the partnership with Enel, emphasizing the shared commitment to delivering a robust pipeline of renewable energy projects. The collaboration aligns with Greece's accelerating shift away from fossil fuels, contributing to broader European decarbonization efforts.
This transaction marks Macquarie's continued expansion in the Greek energy sector, following its acquisition of a 49% stake in the Hellenic Electricity Distribution Network Operator in 2022. The financial close of this latest deal follows Enel's initial announcement in July 2023, with specific terms of the transaction undisclosed. The partnership positions both entities to play a pivotal role in Greece's evolving energy landscape.
