Greek power utility PPC Renewables has signed agreements with MORE, the renewable energy subsidiary of the Motor Oil Group, to acquire full ownership of a major solar project portfolio as well as several operating wind farms across Greece. The financial details of the transactions were not disclosed.
Under the first agreement, PPC Renewables will acquire the remaining 51% stakes in 12 companies developing solar projects with a combined capacity of 1,175 MW. The company already held minority shares in these assets and will become their sole owner once the transaction is completed.
The second deal involves the acquisition of six operational wind farms with a total installed capacity of 107.1 MW. These facilities are located in Fthiotida, Fokida, and Florina, and include a total of 26 wind turbines. Individual project capacities range from 3.5 MW to 43.2 MW.
Both transactions are still subject to regulatory approval. The acquisitions align with PPC’s broader strategy to expand its renewable energy footprint in Greece and neighboring markets, as the group aims to increase its installed renewable capacity from 7.2 GW at the end of 2025 to 18.8 GW by 2030.
Earlier this year, PPC also secured financing of up to €175 million from the European Bank for Reconstruction and Development (EBRD) to support renewable energy investments in Greece, Romania, and Bulgaria.
