PPC to buy 629 MW Romanian renewables portfolio

• 3 months ago (2024-08-08)
• David Flin

Europe 1088 Renewables 776

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PPC Renewables has agreed to acquire the 629 MW renewable energy portfolio in Romania owned by Macquarie Asset Management .

The portfolio consists of 629 MW of operating assets, including 600 MW of onshore wind projects, with a further 145 MW in the pipeline. The total value of the portfolio is estimated at €700 million.

Upon completion of the agreement, PPC’s portfolio in operation in Romania will double and the total operational renewable assets of PPC will reach 5.3 GW.

Citigroup Global Markets Europe and Euroxx Securities are acting as financial advisors, and Clifford Chance as legal advisor to PPC Group in connection with the acquisition.

Georgios Stassis, Chairman and Chief Executive of PPC Group said: “This acquisition represents a significant new step for PPC Group’s overall growth strategy in southeast Europe. We accelerate the build out of renewable generation in Romania by doubling our portfolio of RES in operation, and most significantly with wind and hydro, further diversifying our RES mix, with assets located in the most sought after regions in Romania, with high wind speeds.”