August 1, 2025
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EDP Renewables sells wind farms in Greece to Enel-Macquarie joint venture

Principia agreed to acquire all four EDPR’s wind power plants in Greece. The joint venture of Enel and Macquarie Asset Management’s funds is nearing 800 MW in renewable energy and battery storage capacity in the country.

Principia, owned equally by Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia, is strengthening its presence in Greece with a purchase of four wind farms. EDP Renewables is selling the facilities to the firm after reportedly deciding to exit the country.

The joint venture, which expects to close the transaction later this year, revealed that the estimated enterprise value exceeds EUR 200 million. The measure can include debt and some other items. The takeover is adding 149.6 MW to its operational capacity, which would reach 727 MW, from 70 power plants. Wind power accounts for 517.8 MW.

With the purchase, Principia will operate a total of 517.8 MW in wind power capacity.

“The acquisition of this portfolio strategically strengthens Principia’s presence in the Greek renewable energy market, in a constantly evolving environment, and reaffirms a role of leadership in the country’s energy transition. With this investment, we further reinforce our position in the Greek clean energy market and take another step toward delivering on our ambitious plan for growth, diversification, and reliable clean energy generation across Greece,” Principia’s Chief Executive Officer Aristotelis Chantavas said.

All four wind farms operate within CfD scheme

All four wind farms are operating under 20-year contracts for difference (CfDs). Livadi (45 MW) and Erimia (35 MW) are in Malesina, Phthiotis. Wind power plants Xironomi (36 MW) and Chalcodonio (33.6 MW) were commissioned this year. They are located in Boeotia, Central Greece, and Magnesia, Thessaly, respectively.

Newmoney learned, without revealing its source, that Terna Energy, ENI Plenitude, HELLENiQ Energy and some investment funds also participated in the process, interested in the portfolio. The acquisition will lift Principia by one notch to become third among the largest wind farm operators in the country, the article adds.

Principia aims to complete construction of 49 MW battery system by year-end

Principia has another 230 MW under construction or in the ready-to-build stage, and 5.6 GW more in various stages of development.

It is building a battery energy storage system (BESS) of 49 MW in Polygyros, in the Halkidiki peninsula. It won government support at Greece’s second energy storage auction.

The Paleolivada facility is due to come online before the end of the year. Construction began in March. It will have 98 MWh in guaranteed capacity, versus 127 MWh installed.

The firm has a mature project for a hybrid power plant of 111 MW and 70 MW of solar power capacity. The site is in Atherinolakos, in Sitia in the south of Crete.

Principia inaugurated a photovoltaic cluster of 95 MW in May. The Perasma facility, near the villages of Mavrodendri and Sidera, is set to generate 126.8 MW per year. It comprises seven units and 170,000 bifacial panels.

Macquarie Asset Management agreed to buy 50% of Enel Green Power Hellas in 2023.

Of note, EDP Renewables (EDPR) is headquartered in Spain, but traded on the Euronext Lisbon stock exchange. It is a subsidiary of EDP.

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July 23, 2025
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Rolls-Royce SMR to start works with ČEZ on small modular reactors

Rolls-Royce SMR and Czech utility ČEZ have signed an early works agreement. It paves the way for site-specific work on their small modular reactor project at the Temelín nuclear power plant.

British Prime Minister Sir Keir Starmer and Czech Prime Minister Petr Fiala have signed a deal to work together to seize SMR export opportunities, support highly skilled jobs, boost economic growth and deliver clean, homegrown energy in both countries. It was followed by an early works agreement between Rolls-Royce SMR and ČEZ as a step forward in their strategic partnership for up to 3 GW of low-carbon energy in the Czech Republic.

ČEZ has acquired 20% of Rolls-Royce SMR

The two companies said that now they can launch site-specific work on their small modular reactor project at the Temelín nuclear power plant. Last year ČEZ selected Rolls-Royce SMR as its preferred SMR technology partner and agreed to purchase 20% of the company based in the United Kingdom. After that, they declared the transaction complete in early March.

“We are proud to be working alongside ČEZ to deliver a programme that will bring significant industrial and economic benefits to both our nations, while helping to meet critical energy security and decarbonisation goals,” Chief Executive Officer of Rolls-Royce SMR Chris Cholerton said.

Czech Republic’s first SMR to be deployed in mid-2030s

ČEZ will closely cooperate with Rolls-Royce SMR on preparing the construction of the country’s first small modular reactor, expected to be built at the site of the Temelín nuclear power plant in the mid-2030s, according to the Czech utility’s board member Tomáš Pleskač, who is at the helm of its New Energy Division.

Modular reactors represent a significant opportunity for the country’s economy and are an essential part of the ongoing energy transformation, he added and stressed that the cooperation offers a unique opportunity for growth and prosperity in the field of nuclear energy.

Additional opportunities at ČEZ’s Tušimice nuclear plant

The activities would initially be focused on the site of ČEZ’s Temelín nuclear plant in the South Bohemian region, the update reveals. The companies pointed to additional deployment opportunities at the location of ČEZ’s Tušimice nuclear plant, in the Ústí nad Labem region.

The early works would include regulatory approvals and licensing and environmental assessments. Rolls-Royce SMR is designing units of 470 MW, set to operate for 60 years.

Temelín is near the city of České Budějovice. It is the largest power station in Czechia, housing two VVER 1000 reactors.

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July 4, 2025
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HELLENiQ Energy buys ABO Energy Hellas, adding 1.5 GW in renewables projects

With the acquisition of ABO Energy Hellas, HELLENiQ Energy strengthened its project pipeline for renewables and energy storage by a third, to 6 GW.

Amid a consolidation in the renewables sector in Greece, HELLENiQ Energy Holdings said it completed, through its HELLENiQ Renewables subsidiary, the acquisition of ABO Energy Hellas. The transaction includes six affiliated entities with a portfolio of 22 renewable energy project clusters.

Total capacity under development in Greece amounts to 1.5 GW. ABO Energy Hellas, part of Germany-based ABO Energy, also brings its renewable energy project development and construction platform, according to the update. HELLENiQ Energy pointed out that the portfolio comprises all renewables technologies.

It includes 340 MW of photovoltaic projects under development, classified under priority category B, and 550 MW in projects for battery energy storage systems (BESS) eligible for participation in the process of obtaining priority connection terms.

At the end of March, HELLENiQ Energy operated renewable electricity plants of an overall 494 MW

With ABO Energy Hellas, the company expanded its renewables pipeline to more than 6 GW. It accelerates the strategic objective to achieve at least 2 GW of installed renewable energy capacity by 2030, it said.

Purchase price to grow if projects reach milestones

The two sides didn’t disclose the purchase price. If projects from the 1.5 gigawatt pipeline achieve certain milestones, additional consideration will become due, ABO Energy revealed.  “The sale of the Greek subsidiary improves our chances of success, reduces complexity of the ABO Energy group, and helps to further focus our business,” said Managing Director Karsten Schlageter.

Between 2019 and 2023, ABO Energy developed and sold five solar parks in Greece with a total capacity of more than 100 MW. The largest one is Margariti in Epirus, of 50 MW. The company connected four of them to the grid on a turnkey basis.

ABO Energy stressed it would remain active in Greece as a service provider and continue to provide commercial and technical management for the solar parks already built.

Photo: Margariti solar park (ABO Energy)

HELLENiQ Energy had almost 500 MW in operation at end of March alongside just as much in mature projects

HELLENiQ Energy, formerly Hellenic Petroleum, produces fossil fuels and petrochemicals and operates service stations. The company is rapidly expanding in the green energy segment as well. Notably, it won state support for its projects at Greece’s BESS auctions.

At the end of March, HELLENiQ Energy operated renewable electricity plants of 494 MW altogether. Photovoltaics made up 59%, while the rest was in wind turbines. At the time, the company had half a gigawatt under construction or in the ready-to-build stage.

It is about to complete the purchase of the remaining 50% of Elpedison, its joint venture in Greece with Italy-based Edison. They operate two gas-fired combined cycle power plants.

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June 12, 2025
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EDPR reportedly exiting Greece as all power plants, projects are on sale

EDP Renewables (EDPR) is about to divest of all its assets in Greece and leave next year, according to the domestic media. Market-oriented green electricity producers in the country are at a disadvantage, due to low and negative prices and curtailments, against companies involved in retail supply and with long-term power purchase agreements (PPAs) and feed-in tariff support.

Green energy giant EDP Renewables (EDP Renováveis) is expecting official bids for its four wind parks northwest of Athens, while also looking to sell all its other assets to MORE, the renewables subsidiary of oil refiner Motor Oil Hellas, according to news reports. The latter portfolio is said to include their joint venture.

EDPR, part of Portugal-based EDP Group, is apparently planning to exit the country next year, as early as the summer, and is already cutting jobs. The company entered Greece in 2018.

The wind parks, reportedly pursued by four domestic companies, are Livadi (45 MW) and Erimia (35 MW) in Malesina, Phthiotis, both commissioned last year, and new facilities Xironomi (36 MW)  and Chalcodonio (33.6 MW). They are located in Boeotia, Central Greece, and Magnesia, Thessaly, respectively.

Of note, EDP Renewables is headquartered in Spain, but traded on the Euronext Lisbon stock exchange.

Project portfolio includes major wind power clusters in Evia

The Greek press learned that MORE is likely to buy out EDPR’s 51% share in their projects for two wind farm clusters in Evia (Euboea), of 150 MW and 214 MW. Other assets that the oil refiner would pursue include another cluster under development for sites in the same island, of 156 MW, an operating 22 MW photovoltaic park in the Peloponnese and two wind farms under construction in Boeotia (also Beotia and Viotia).

In addition, the company has a pipeline of less mature projects for photovoltaics, standalone battery energy storage systems (BESS), hybrid power plants and wind power. They could all fit into one large package for sale.

EDPR is also exiting Hungary, Belgium, the Netherlands, Colombia, Brazil and a group of Asian countries.

Vertical integration or bust

Analysts have pointed out that the Greek market is no longer attractive to companies in the sector that are not vertically integrated. Namely, renewable energy producers oriented toward the market are exposed to curtailments and low, zero and negative power prices at electricity exchanges.

The ones also active in the supply and retail market have an advantage, as do the operators of power plants that receive subsidies like feed-in tariffs or have long-term PPAs.

The share of curtailed electricity in Greece is set to be more than doubled this year

Since the beginning of the year, over 860 GWh has been curtailed, Euro2day wrote. It is already more than all last year, when the share of lost electricity was 4%

But some companies seem dedicated to the Greek market.

France-based Valorem recently completed a wind park of 27 MW in Vlasti in the municipality of Eordaia. It is located in the Kozani regional unit in the region of Western Macedonia in northern Greece. The facility consists of six turbines, with an estimated annual output of 68 GWh overall.

Also in Kozani, Principia inaugurated a photovoltaic cluster of 95 MW. The firm is a joint venture between Enel and funds managed by Macquarie Asset Management. The Perasma facility, near the villages of Mavrodendri and Sidera, is set to generate 126.8 MW per year. It comprises seven solar power plants.

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