The energy sector was in the spotlight in 2024, with companies listed on the Athens Stock Exchange attracting the interest of investors.
This is also reflected in the value of the deals (acquisitions, mergers, partnerships), which exceeds 6.7 billion euros.
The recent acquisition of the remaining 50% of Elpedison by Helleniq Energy is the last link in a long chain, which extends throughout 2024.
2024 energy deals
Of course, the most impressive deal, which is considered the largest in the energy sector for the domestic capital market, concerns the acquisition of Terna Energy by Masdar for 2.4 billion euros. The Arabs already control 70% and now everyone is waiting for the launch of the public tender of 20 euros/share, in order to acquire 100%. A development, which will provide valuable liquidity to minority shareholders and institutional funds.
In April, PPC and Metlen joined forces, proceeding with an agreement for the development of a RES portfolio, with a capacity of 2 GW and a total value of 2 billion euros.
In November, the acquisition of Macquarie’s RES portfolio in Romania by PPC followed, which paid the amount of 700 million euros, while the Company made a deal with the Copelouzos-Samaras Group in September for 1.7 GW of RES and a 20% stake in the CCGT unit in Alexandroupolis.
Meanwhile, Intrakat and PPC are proceeding with the joint development of a RES portfolio in 2024, in a deal with a potential value of up to over 1 billion euros.
On its part, Motor Oil acquired the remaining 25% of Anemos from Ellaktor for 123.5 million euros, following the initial purchase of 75% at the end of 2022. A few months later, it was Elektor’s turn to be included in the Vardinogiannis Group’s portfolio, in a transaction worth 114.7 million euros (regarding 94.4%).
Another important agreement was the concession of a 20% stake in “Ariadne” (the entity responsible for the electricity connection of Crete) by IPTO to the Chinese State Grid.
The most important deals of 2024 in the Energy sector:
• Acquisition of Terna Energy – 2,400 million euros
• Partnership between PPC and Metlen – 2,000 million euros
• Partnership between PPC and Intrakat – 1,000 million euros
• Acquisition of RES in Romania by PPC – 700 million euros
• Acquisition of Elpedison by Helleniq Energy – 195 million euros
• Partnership between Copelouzos – Samaras and PPC – 177 million euros
• Acquisition of Anemos by Motor Oil – 123 million euros
• Acquisition of Elektor by Motor Oil – 114 million euros
• Concession of 20% of “Ariadne” by IPTO – unknown amount
