Cubico Sustainable Investments (Cubico) has completed the acquisition of Aoliki Panachaikou, owner of two operational onshore wind farms in Greece, from Enora.
The wind farms have a combined capacity of 48.5 MW and are located in the Panachaiko Mountains.
Enora and its sister company Enteka Services will continue to manage the sites, ensuring a smooth ownership transition.
Cubico was supported by Katatzas and Partners (legal), Natural Power (technical), Marsh (insurance) and Grant Thornton (financial audit and model).
The investor now owns nearly 100 MW of operating assets in Greece and recently announced the start of a 12 MW extension at one of its sites.
The company is actively seeking to develop its portfolio in Greece through solar photovoltaic and onshore wind opportunities.
David Swindin, EMEA Manager of Cubico, said: “The Greek renewable energy market has demonstrated its resilience during the global pandemic and we are encouraged by the long-term macroeconomic outlook.
“We see continued growth potential in the market and plan to add to our portfolio in the coming months with brownfield and new projects.”
Alessandro Asperti, Cubico Country Manager for Italy and Greece, added: “The acquisition of these wind farms is an important step for Cubico in Greece and strengthens our commitment to renewable energies in the country.
“As part of our strategy to be long-term owners and operators, Cubico opened an office in Athens last summer and we look forward to growing our local team as a result of this transaction. “