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

, SEE Energy News

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.