Germany-based ABO Energy has sold its Greek subsidiary, including a 1-gigawatt pipeline of renewable energy projects and associated personnel, to Helleniq Energy Holdings, the companies said on Tuesday.
The deal includes a portfolio of solar, wind and battery storage projects currently under development in Greece. While financial terms were not disclosed, ABO Energy said the transaction would not have a material impact on its 2025 earnings. Additional payments could be made if certain development milestones are achieved.
“This transaction is a great success for all parties involved,” said Karsten Schlageter, managing director of ABO Energy. “It allows us to streamline our operations and sharpen our strategic focus.”
ABO Energy, formerly known as ABO Wind, has been active in the Greek market since 2017 and developed more than 100 megawatts of solar capacity between 2019 and 2023. Four of those projects were delivered on a turnkey basis. Greece accounted for 15% of the company’s revenue in 2020, declining to 9% in 2023.
Following the divestment, ABO will continue to provide operations and maintenance services for the existing Greek assets. The company said it now intends to concentrate development efforts on core markets such as Germany.
Helleniq Energy, previously Hellenic Petroleum, operates in seven countries and is targeting at least 2GW of installed renewable capacity by 2030. Its development pipeline currently exceeds 6GW across various renewable technologies.
The acquisition marks a further step in Helleniq’s strategy to expand its presence in the clean energy sector as part of its Vision 2025 plan.
