Greece’s storage market is moving towards larger integrated generation portfolios after AKTOR Renewables agreed to pursue a majority stake in about €370 million of hybrid renewable and battery projects developed with DEPA Commercial.
Under a binding memorandum, AKTOR would acquire 51% of the relevant project companies, while DEPA would retain 49%.
The portfolio includes 221.1 MW of hybrid photovoltaic projects and 250 MW of standalone battery energy storage.
The hybrid projects themselves also include battery systems with maximum injection capacity of around 221.1 MW.
Environmental approvals are already in place, but the projects still require grid offers and further corporate approvals, meaning the transaction marks a major development milestone rather than final investment approval.
The structure is commercially notable because DEPA would manage the electricity produced.
That ties asset ownership directly to energy trading and portfolio optimisation.
Storage becomes part of generation strategy
Greek renewable economics are increasingly being shaped by low midday prices, curtailment and expensive evening periods.
That is pushing developers away from standalone solar towards portfolios combining generation, storage and active energy management.
The DEPA-AKTOR structure reflects that shift.
The value of the projects will depend not only on how much electricity the solar plants generate, but on when that electricity is sold.
Batteries can absorb production during weak-price periods and release it into higher-value hours, while a trading platform can optimise the portfolio across wholesale and balancing markets.
That model is becoming increasingly important as Greece’s solar fleet expands.
The country has already installed around 13.8 GW of photovoltaic capacity, creating growing pressure on daytime capture prices.
At the same time, evening scarcity continues to generate sharp wholesale spikes.
Hybrid assets can monetise both sides of that curve.
The project portfolio also highlights growing consolidation in the Greek storage market.
As batteries move from pilot projects into hundreds of megawatts of planned capacity, scale becomes more important for procurement, financing and route-to-market strategy.
The approximately €370 million portfolio is therefore less about individual projects than the emergence of integrated energy platforms combining generation, storage and trading.
Greece’s renewable market is moving rapidly from a capacity race towards a flexibility race.
The winners may increasingly be developers that control not just megawatts, but the timing of those megawatts.
