Australia’s Macquarie Asset Management has entered a 50-50 joint venture with Enel Green Power Hellas following a 50 percent acquisition from Italy’s Enel Green Power.

The Macquarie-Enel Green Power Hellas joint venture for the Greek market has prepared a business plan whose investments total one billion euros until 2030.

Besides co-managing existing projects and reaping benefits from them, the partners also plan to invest in new RES projects with a focus on storage, PV, wind, and new technologies.

Taking this investment plan into account, the Italian corporation’s existing portfolio in Greece, totaling 566 MW, could more than double by the end of the decade.

Besides its existing 59 wind, solar and hydropower projects, representing an overall installed capacity of 482 MW, Enel Green Power Hellas is also developing six PV projects totaling 84 MW.

Enel Green Power Hellas also plans to develop PV units offering 11 MW in Kozani, northern Greece, which would take the company’s portfolio to 577 MW. This capacity could exceed 1.2 GW by 2030, boosted by new RES and storage projects.