Greek oil refiner Hellenic Petroleum (ELPE) announced that it has acquired two wind farms on the island of Evia, with combined installed capacity 37.2 MW for some 85 million euros.
The refiner’s renewable energy subsidiary signed contracts on the acquiaition of project companies Wind Energy Evo and Wind Energy Pears, which operate the two wind farms in South Evia since October 2018 and December 2019, respectively.
The six-turbine wind farm in Trikorfo, Karystos, has installed capacity of 19.2 MW, while another 18 MW six-turbine wind farm is located at Megalo Vouno, also in Karystos. The two plants have a combined output that is enough to cover the annual electricity consumption of around 34,000 households.
The acquisition was carried out in line with ELPE’s strategy to develop renewable energy projects. PricewaterhouseCoopers Business Solutions was the exclusive financial advisor for this transaction, while Karatzas & Associates acted as legal counsel.