Enel Green Hellas rebrands after deal with Australia’s Macquarie Asset Management

·

Greek renewable energy developer and operator Enel Green Power Hellas, in which Australia’s Macquarie Asset Management recently took a 50% stake, has relaunched with a new name, Principia Energy.

Italian utility Enel SpA (BIT:ENEL) last year agreed to co-manage its Greek unit as a joint venture with Macquarie Asset Management by selling a 50% equity interest. At the point of completing the deal in December, Enel Green Power Hellas had a 566 MW portfolio of onshore wind, solar and hydropower projects in operation or under construction.

“The Greek market is rapidly accelerating away from fossil fuels and now holds huge potential in helping to accelerate Europe’s decarbonisation efforts,” Eric Bjonerud, managing director at Macquarie Asset Management Green Investments, said then.

Enel energy
(L to R) Theodoros Skylakakis (Minister of Energy), Aristotelis Hadavas (CEO Principia), and Konstantinos Skrekas (Minister of Development). Photo: Naftemporiki.

“Enel Group and Macquarie Group are joining forces to make our vision a reality. With over 15 years of pioneering experience in the country, we’re now more committed than ever to driving the efforts towards energy transition,” Principia Energy CEO Aristotelis Chantavas wrote on LinkedIn today.

The company held an event to present its name and corporate identity, which was attended by Greece’s ministers of environment and energy and of development, Greek media reported. Australia’s Ambassador in Greece, Alison Duncan, also attended the event.

Alison Duncan
The Ambassador to Greece from Australia, Alison Duncan (left) was also in attendance.

Under the new structure, Principia Energy will lead energy advancements, speed up the country’s move towards green energy, and explore new solutions like storage and hybrid projects.

With a goal of creating a sustainable future and a mission to switch to renewable energy faster, Principia Energy embodies a partnership that creates more value together.

Principia currently runs 59 wind, solar, and hydro farms and is building 7 more solar farms. Together, they produce 577MW of green energy, enough for 300,000 households annually.

Source: Renewables Now and Naftemporiki.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Giannis Antetokounmpo in talks to buy the Sydney Kings

NBA superstar Giannis Antetokounmpo is in talks to buy a stake in the Sydney Kings — with plans to rename the team the ‘Spartan Kings.’

Paros submerged, Syros pelted by hail as storms sweep the Cyclades

Severe weather swept across several Cycladic islands on Monday, March 31 with Paros and Syros among the hardest hit.

Sydney remembers Cyprus’ fight for freedom ahead of National Day anniversary

Cypriot and Greek Australians gathered in solemn remembrance on Sunday, 30 March, for a memorial service marking Cyprus National Day.

Greek Orthodox Community of SA celebrates 204th year of Greek Independence

The Greek Orthodox Community of South Australia commemorated Greek Independence Day with joyous festivities on Sunday, 30 March.

From alleyway to legacy: Coburg’s Kastoria Lane project gains momentum

Merri-bek City Council has greenlit public consultation for the naming of Kastoria Lane, a project set to transform a neglected alleyway.

You May Also Like

Nick Karagiannis surprises grandmother whose car was crushed by council

Nick Karagiannis and his team at Crash Claim presented Wendy Tucker with a 2012 Toyota Aurion, a baby seat, flowers and a $2,000 cheque.

‘An unbelievable sight’: At least 23 dead as two refugee boats sink off Greek coast

Search and rescue operations are underway off Lesvos and Kythera, after refugees were involved in two separate disasters just hours apart.

Greek band of brothers disbanded as Dimitri Petratos leaves Newcastle Jets for Saudi Arabia

The glorified Petratos trio will no longer be gracing the A-League after Dimitri Petratos signed a deal with a Saudi Arabian club.