Intrakat, now Aktor, has turned the page with the approval of the share capital increase of 200 million euros, which will finance acquisitions and investments in the Group’s sectors of activity.
The Group’s chairman and CEO, Alexandros Exarchou, announced that discussions are underway with banks and infrastructure funds to leverage resources of 1.5 billion in order to finance investments of 2 billion euros, of which 1.3 billion concern RES (Renewable Energy Sources) and 600 million real estate.
Aktor’s strategy, as he said, is based on the logic of financing each subsidiary on a non-recourse basis, meaning that each investment is self-financed by its own flows, without burdening the Group with servicing the loans.
More specifically:
Aktor Renewables
The Group intends to further acquire 150-200 MW RES projects in the coming period, with the aim of having 500 MW projects in operation and another 500 MW under development. The acquisition of photovoltaic and wind plants of 100 MW and 30 MW respectively has been agreed.
Exarchou stressed that the agreement with PPC (December 2023) ensured the best conditions for the Group’s existing RES pipeline and underlined the advantages of the first wave of new RES project acquisitions, which already have tariffs and significant return on investment rates.
Aktor Real Estate
The agreement to acquire 56 properties from Prodea for 600 million euros will be completed by April and both parties are working intensively towards this end. The acquisition of this portfolio will have a direct impact, as early as 2025, on the Group’s profitability.
Aktor Concessions
Aktor is considering the acquisition of mature concession projects and is exploring opportunities in Greece and abroad, provided that the projects meet specific conditions, such as advantageous price, maturity, the possibility of a non-recourse basis and reasonable profitability. The Group, as its head said, is ready to participate in concession projects in Romania, when they are auctioned.
Aktor Facilities Management
Aktor Facilities Management will have major synergies with the Group in both the maintenance and operation of buildings, projects and RES, offering a significant competitive advantage.
Exarchou noted that the decision of the 200 million euro share capital increase was the minimum possible burden that could be passed on to shareholders, pointing out that the Group had to maintain this balance. He also promised for the next two years growth rates comparable to those of Intrakat in the previous two years.
The amount of the 200 million euros will be allocated as follows: 50 million for the purchase of real estate, 90 million for RES and 60 million for working capital and acquisitions in the construction sector.
