METKA EGN signs an agreement with Motor Oil (Hellas) SA for the sale of a group of operational solar power parks, located in Northern and Central Greece, totaling 47MW, with total consideration was €45.8m. The solar parks became operational in the second half of 2019 and have a secured revenue stream via a 20-year Power Purchase Agreement (“PPA”) through the Greek Renewable Energy operator (DAPEEP).
The transaction is part of the broader strategy of the solar development business model “Build-Operate-Transfer’’ (“BOT”). The business model leverages the global construction and development expertise of METKA-EGN, having successfully undertaken projects with an overall output exceeding 1.2 GW, and energy storage of 200 MW. Completed major projects in all 5 continents amount to 540MW, with a total estimate of 1,500 MW to be operational within the next five years.