Hellenic Petroleum SA has acquired a €130 million portfolio of photovoltaic solar projects in Kozani, Greece, marking a significant move towards renewable energy.

Target Information

Hellenic Petroleum SA, a prominent oil company based in Greece, has successfully acquired a significant portfolio of photovoltaic solar projects in the Kozani region. This transaction, valued at 130 million euros, marks a strategic shift for the company as it expands its focus on renewable energy sources. The acquired projects are designed to leverage the abundant sunlight in the area, thereby enhancing Hellenic Petroleum's sustainability initiatives.

This acquisition aligns with the company's aim to diversify its energy portfolio and commit to a greener future. Hellenic Petroleum intends to leverage its expertise in energy infrastructure to optimize the project's performance and fulfill increasing demands for renewable energy in Greece.

Industry Overview in Greece

The renewable energy sector in Greece has seen substantial growth in recent years, largely driven by government policies favoring sustainable practices and investments. The country benefits from a geographic locat