Koutalidis Law Firm is pleased to have advised ContourGlobal, a KKR company, on the successful acquisition of a 100% equity stake in a Greek photovoltaic portfolio held by Quest Energy S.A., a subsidiary of Quest Holdings SA, the shares of which are listed on the Athens Exchange.
The portfolio comprises 26 operating photovoltaic stations with a total installed capacity of approximately 37 MW. The assets are located in various prefectures across Greece, grouped across twelve clusters and structured through seven SPVs. This acquisition marks a strategic milestone for ContourGlobal who dynamically establishes its presence in Europe and in the Greek RES power generation market with a focus on renewables and BESS and signifies its commitment to investing in energy transition and sustainable growth in Greece.
We supported ContourGlobal across all stages of the transaction’s lifecycle, including deal structuring, a targeted legal due diligence review, negotiation and execution of the share purchase agreement and satisfaction of conditions precedent through to completion, as well as the successful navigation through Greece’s newly introduced foreign direct investment (FDI) approval process, securing one of the first unconditional clearances under the new Greek FDI regime.
The transaction was led by Partners Evans (Evangelos) Courakis (Energy) and Yiannis Loizos (M&A), supported by a cross-practice team from the Energy, M&A and Banking & Finance groups. The Energy team included Senior Associate Evangelos Mylonas – Tsoumas and Associates Mariadina Lili and Evangelos Konitsas, while the M&A team included Associates Eriketi D. Diakoumakou, Antonela Skiadaressi and Zoe Koutsiafti. The Banking & Finance aspects were led by Partner Dr. Ioannis Kaptanis and Counsel Dimitris Kalyvas, supported by Associates Marina Angoura and Stephanie Georgantas.
