Greece, Motor Oil has completed the acquisition of renewable energy business of construction group Ellaktor

The Vardinogiannis Group, which controls oil refiner Motor Oil, has completed the acquisition of renewable energy business of construction group Ellaktor .

Namely, a 75 % of Ellaktor’s RES division was transferred to the ownership of Anemos Holdings, a subsidiary of Motor Oil Renewable Energy in which Ellaktor holds a 25 % stake, at a price of 671.5 million euros.

Ellaktor’s RES portfolio currently stands at 493 MW in operation, in addition to a series of projects under construction with a total capacity in excess of 1.6 GW.