Motor Oil acquired a portfolio of solar parks for €45.8 m
Motor Oil, the leading petroleum refining Group in Greece and a leading force in the whole SE region, acquired a portfolio of solar parks for €45.8 m. The parks are located in Northern and Central Greece and have a total capacity of 47 MWH.
The transaction took place through Motor Oil's subsidiary TEFORTO HOLDINGS LIMITED. TEFORTO acquired the shares of RADIANT SOLAR HOLDINGS LTD and GREENSOL HOLDINGS LTD which were held by METKA-EGN LTD, a subsidiary of MYTILINEOS SA. According to the announcement, the acquisition is part of the MOTOR OIL Group's strategy for further penetration in the field of Renewable Energy Sources.
The solar parks were put into operation in the second half of 2019, with prices secured under a 20-year electricity sale contract with the Renewable Energy and Origin Guarantee Manager.
MYTILINEOS's RSD Business Sector has a portfolio of photovoltaic projects totalling approximately 540MW in markets such as Australia, UK, Spain, Cyprus, South Korea, Mexico, with a view to development, construction and sale of at least 1500 MW of solar parks and energy storage systems over the next five years.
Original Source: Euro2day
Adaptation/Translation: Kiki Athanasiadis