ATHENS – Global law firm Reed Smith today announced that it has advised HELLENiQ RENEWABLES, an entity of the major Greek energy group, HELLENiQ ENERGY, on the successful acquisition of a 211 MW solar portfolio developed in Romania by METKA EGN Ltd, an entity of Mytilineos Group.
Solar panels

HELLENiQ RENEWABLES is the renewables arm of HELLENiQ ENERGY Group, a leading energy group in Greece and the wider South-East Europe region, with activities in the oil refining, the marketing of fuels and petroleum products, the production of petrochemicals, the production of power from conventional and renewable energy sources, the exploration and production of hydrocarbons and the trading and supply of power and natural gas.

METKA EGN Ltd, is an entity of Mytilineos Group, a leading industrial and energy group with global presence and activities in the metallurgy sector, the construction of power plants and battery energy storage units, the production of power from conventional and renewable energy sources and the trading and supply of power and natural gas.

The agreement concluded between the parties relates to the acquisition of four Romanian entities (SPVs), which are owning an equal number of ready-to-build solar photovoltaic projects with an aggregate capacity of approximately 211 MWp in southern Romania. The acquisition of each SPV will be completed, subject to several conditions, the most important being the entry into commercial operation of the respective project it owns. The first project of 13 MWp is expected to enter into commercial operation later this year, two projects of 108 MW combined capacity in 2024, while the last one of 90 MWp by Q3 2025.

The Reed Smith Athens team that advised HELLENiQ ENERGY was led by partner Dimitris Assimakis, supported by counsel Minas Kitsilis, and associate Eleni Alexiou.

Assimakis, partner and head of Reed Smith’s Greek energy team, commented: “We are very excited to have supported HELLENiQ ENERGY on this significant transaction marking its entry into the vibrant Romanian renewable electricity market, and bringing the group closer to its strategic goal of increasing its renewable energy portfolio. Despite being a quite demanding transaction, it was smoothly completed in less than two months thanks to the dedication and continuous support of all the parties involved.”