The Libra Group, an international corporate group active in energy, aviation, hospitality, real estate, shipping and diversified investments that is wholly-owned by the Logothetis family, is selling a portion of its Greek RES interests.
According to energypress sources, the group intends to hold on to about one third of its local PV investments and one quarter of local wind energy interests.
A Chinese firm is believed to have secured the PV units placed for sale by the Libra Group while a powerful US fund, already prominently placed in the Greek market, is expected to add the group’s wind energy units to its portfolio.
Interestingly, Euroenergy, the group’s company handling renewable energy investments in Europe, has spent the past three to four years working to strengthen its portfolio through acquisitions of developed wind parks and project licenses.
In 2016, Euroenergy bought three wind parks possessing a total capacity of 120 MW from French group EDF.
The Libra Group is expected to use the proceeds of the sales to cover loans.
Euroenergy maintains a prominent RES portfolio in Greece, Romania and Latvia. The Libra Group’s investments in Greece also include the Grace boutique hotel chain as well as a series of investments held independently and with partners.