The Greek energy group Helleniq Energy Holdings - previously known as Hellenic Petroleum - has acquired ABO Energy's Greek subsidiary, ABO Energy Hellas, for an undisclosed amount. The transaction includes the transfer of a portfolio of solar, wind, and battery storage projects totalling approximately 1.5 GW. The agreement also includes potential earn-out payments, subject to future project development milestones.
Helleniq Energy targets at least 2 GW of installed capacity by 2030; it currently holds a portfolio of more than 6 GW. As a service provider, ABO Energy will remain active in Greece, continuing to deliver O&M services for the solar parks it has already built. The company now plans to refocus its project development activities on other markets, particularly Germany. Between 2019 and 2023, ABO Energy developed and sold five solar parks in Greece, totalling over 100 MW, four of which were delivered on a turnkey basis.
Under its revised NECP (2024), Greece aims to raise the share of renewables in final energy consumption to 67% of by 2030, including 81% for electricity (up from 66% in the 2019 NECP) and 14% in transport. Most of the installed capacity should be covered by renewables by 2030, including 37% of solar PV (13.5 GW), 24% of onshore wind (8.9 GW), and 5% of offshore wind (1.9 GW).
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