Norton Rose Fulbright advises Copelouzos Group and Samaras Group on sale of renewable projects to PPC Group

Under the agreement, PPC Group will acquire a 66.6 MW operating RES portfolio, comprising two newly operational wind parks in South Evia and Lakonia with a total installed capacity of 43.3 MW, located in areas with strong wind potential, and photovoltaic parks with a total installed capacity of 23.3 MW. The enterprise value of the operating portfolio amounts to €111 million, reflecting a multiple of 7.2x EV/EBITDA.

PPC Group will also acquire a development pipeline of RES projects totalling 1.7 GW, at various licensing stages across Greece, for a consideration of €106 million. The pipeline will be further developed jointly by PPC Group, Copelouzos Group, and Samaras Group.

As part of the sale, the RES portfolio was spun off to newly established entities, requiring the transfer of assets, the assumption and assignment of agreements (including bond loans), the re-issuance or transfer of licences, and the execution of new agreements.

The Norton Rose Fulbright team advising on the transaction was led by Athens-based Partner, Vassilis Koroxenidis, with the assistance of Counsel, Dimitris Rampos, Senior Associate, Sergios Karotsieris, and Associate, Konstantina Mantzari.

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