Enel Green Power Hellas has a portfolio of 566MW across onshore wind, solar and hydropower projects.
For Enel, the transaction is expected to positively impact its EBITDA by around €400m. Credit: lovelyday12/Shutterstock.com.
Macquarie Asset Management (MAM) has acquired a 50% stake in Enel Green Power Hellas (EGPH) from Italian power company Enel Group for €350m ($386m).
The deal brings the total enterprise value of Enel’s Greek renewables business to €980m.
EGPH has a 566MW portfolio in onshore wind, solar and hydropower projects, the third-largest operational portfolio in Greece
The portfolio consists of 59 operational projects with a combined installed capacity of 482MW generated by wind, solar and hydropower, and six solar projects currently under development with a combined capacity of 84MW.
EGPH is growing into storage and hybrid solutions and has identified a pipeline of new development projects spanning solar and wind energy.
The two companies have established a joint venture to leverage both parties’ expertise in the renewable energy sector, co-manage EGPH’s renewable portfolio and continue developing the project pipeline.
