Of Thanks to Floudopoulos
A new scenario is being formed in the Greek RES market as they are in progress and important acquisition moves are being implemented, which completely change the map of green energy in our country.
After the first big deal of the acquisition of ELLAKTOR wind farms by the Motor Oil group, whose value is estimated at 1 billion euros (including the value for the entry of MOH in the share capital of ELLAKTOR), yesterday we had a smaller in size, except for a significant acquisition by PPC Renewables, which acquired the RES portfolio of Volterra.
The value of the transaction reached 133 million euros, with PPC being the first time it manages to complete such a large acquisition move. With the transaction, PPC acquires a portfolio of projects with a capacity of more than 110MW.
It is recalled that with the deal of ELLAKTOR RES, MOI added to its portfolio projects in operation of 493 MW as well as a series of projects under construction or development with a total capacity of more than 1.6GW.
The deal that is coming
In addition to the agreements that have been completed, another big deal is being launched in the market and concerns the number one player in the industry, TERNA Energy. As stated by the head of the company G. Peristeris during the recent investor day, the company has accepted proposals for entry into the share capital from large funds, without currently there is any agreement.
According to information, although the name of the big Australian fund Macquarie has been heard, nevertheless the proposals in its hands and which TENERG is considering are more than one, however none of them is close to completion, not even in the final straight for finalization. .
After the investor day there is mobility and the interested parties ask to see the portfolio of the company’s projects, however the contacts have reached that far.
It should be noted that in the case of ELLAKTOR or Volterra, the management of TERNA Energy does not have any specific target for the sale of shares of the company and any mobility has arisen as a result of proposals submitted by interested parties.
As long as these proposals are considered satisfactory, the next step of implementation can proceed. However, at present these proposals are “weighed”, according to company sources.
It is noted that 37.9318% of TERNA Energeiaki belongs to the parent company GEK TERNA, 11.0583% to the president of TERNA Energeiaki, George Peristeri and 6% to Atale Enterprises LTD, interests of the shipowner Vangelis Marinakis.
Regarding the Macquarie proposal according to what has been made public, without being refuted, the Australian fund is said to have proposed the acquisition of more than 50% at a price with a premium in relation to the current value of the share at the levels of 22 – 23 euros.
The impact of Macquarie and other funds for TERNA Energy is indicative of the status of the Greek green energy market where the margins to place a major player are rather finite as most geographical locations deemed suitable for RES installation have already been occupied.
Therefore, to enter the domestic market, the safest way is to buy existing licenses or companies.
Source: Capital
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