Energy sector acquisitions and mergers are expected to represent an increased share of overall transactions this year, according to officials at professional services multinational PwC.
The combined effect of a European turn towards investments for green energy growth and Greece’s decarbonization plan is focusing Greek investment interest on the renewable energy sector, PwC officials pointed out during a presentation of an annual report.
Hellenic Petroleum ELPE’s recent decision to purchase an unfinished 204-MW solar energy park from Germany’s Juwi for 130 million euros, as well as petroleum group Motor Oil’s move to acquire a 47-MW RES project from Mytilineos for 45.8 million euros were highlighted as signs of things to come.
PwC officials also confirmed the interest of major foreign funds for RES investment opportunities in Greece, as was disclosed by energypress earlier this week.
Gas utility DEPA’s privatization of DEPA Infrastructure, a new company entity, will be completed this year, while nine prospective bidders, in the procedure’s preliminary stage, have already emerged to express official interest, PwC officials pointed out.
In 2019, Greece’s energy sector represented 5.8 percent of the country’s total number of takeovers and mergers, transactions worth a total of 4.3 billion euros.