Reed Smith has advised PPC Renewables on its successful bid for the acquisition of a renewable energy assets portfolio from Piraeus Equity Partners. The KLC Law Firm reportedly advised the seller.
Closing is expected in early 2023, pending regulatory approval.
According to Reed Smith, "the portfolio comprises two operating wind parks with a total installed capacity of 44 megawatts located in Peloponnese, a 2 megawatt-peak operating photovoltaic park located in Trikala, Thessaly, and a 38-megawatt wind projects portfolio developed in various locations close to the sites of the operating wind parks."
PPC Renewables is the renewables arm of the Public Power Corporation which, according to Reed Smith, is Greece’s largest power producer and supplier.
Reed Smith previously advised PPC Renewables on a joint venture with RWE Renewables for the development of an up to 2 gigawatt-peak solar photovoltaic projects portfolio in Greece (as reported by CEE Legal Matters on October 18, 2021).
The Reed Smith team was led by Partner Dimitris Assimakis and included Counsel Minas Kitsilis, Senior Associate Konstantinos Roppas, and Associate Georgia Koui.