Macquarie’s Bold Move in Renewable Energy: Acquiring a 50% Stake in Enel Green Power Hellas
In a significant stride towards sustainable energy, Macquarie Asset Management has recently finalized a monumental deal, acquiring a 50% share in Enel Green Power Hellas from the Enel Group. This groundbreaking transaction involves an equity consideration of around €250 million, marking a new era in green investments. Enel Green Power Hellas stands at the forefront of renewable energy development and operations in Greece. Their impressive 566MW portfolio spans onshore wind, solar, and hydropower projects, both operational and under construction, across the Greek mainland and islands. This extensive portfolio includes 59 active sites with a combined capacity of 482MW across wind, solar, and hydropower, plus six under-construction solar projects adding up to 84MW. Notably, their operational portfolio ranks as the third largest in Greece. Moreover, Enel Green Power Hellas is trailblazing with a pipeline of new wind and solar projects, and is delving into cutting-edge storage and hybrid solutions.
Macquarie’s dedicated Green Investments team is set to amplify these ambitions, leveraging their global expertise and investment prowess. Enel Green Power Hellas boasts a seasoned professional team, deeply versed in the Greek renewable energy sector, with comprehensive industrial knowledge and the ability to expedite projects from development to construction and operations, a quality Macquarie is eager to enhance. Eric Bjonerud, Managing Director at MAM Green Investments, emphasized the significance of the Greek market in the global shift away from fossil fuels. He highlighted the vast potential Greece holds in propelling Europe’s decarbonization initiatives, expressing enthusiasm for the partnership with Enel. This collaboration aims to deliver an ambitious array of renewable energy projects, integrate innovative green technologies, and bolster Greece’s energy transition. This acquisition follows Macquarie’s previous investment in the Hellenic Electricity Distribution Network Operator in 2022, underlining its commitment to renewable energy. The recent deal, initially announced by Enel in July 2023, has now reached its financial culmination. While the specific terms remain undisclosed, the impact of this transaction resonates through the renewable energy landscape.
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Credits: [Image: Enel Green Power]