Koutalidis Law Firm is pleased to announce the successful completion of a significant transaction involving Macquarie Asset Management (Macquarie) acquiring a 50% stake in Enel Green Power Hellas with an implied full enterprise value of approximately 980 million euros. The deal marks a notable investment in Greece’s renewable energy sector, highlighting the country as a focal point for green energy investments.
In this transaction, Koutalidis Law Firm acted as the Greek counsel alongside Jones Day, who served as the international counsel. The acquisition was finalized following rigorous due diligence, and comprehensive transaction documentation efforts.
The collaboration between Macquarie and Enel represents a significant advancement in the renewable energy sector, combining two experienced entities to enhance Greece’s renewable energy landscape. Enel Green Power Hellas is a leading renewable energy developer and operator in Greece, boasting a 566 MW portfolio of onshore wind, solar, and hydropower projects in operation or under construction across its mainland and islands. In particular, the portfolio comprises 59 operational projects totaling 482 MW of installed capacity powered by wind, solar and hydropower (the third largest operating portfolio in Greece), and projects under construction with an overall capacity of 84 MW. 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. This joint venture is set to foster innovative advancements and sustainable growth in renewable energy.
Key partners Nikos Koritsas, Evans Courakis and Yiannis Loizos, led the team with support from a dedicated team of associates. The firm commends the efforts of all individuals involved for their commitment and professionalism throughout the transaction.
The acquisition aligns with Greece’s National Energy and Climate Plan, aiming to enhance the country’s energy generation capacity and security through decarbonization and renewable energy development.
Koutalidis Law Firm’s involvement in this transaction underscores the firm’s expertise and commitment to facilitating significant investments in the energy sector. The firm has a history of involvement in substantial energy transactions, including the acquisition of 49% of the Greek DNO (DEDIE) and support in the acquisition of various parks worldwide by REDEN Solar.
As Greece continues its journey towards a sustainable and prosperous energy future, this transaction represents an important milestone in achieving its renewable energy and decarbonization goals.