Wind Wire: Greece - Industry giant acquires developer
Greek industrial heavyweight Mytilineos has taken full control of Endesa Hellas and its development pipeline of over 800MW of renewable energy projects from Spanish energy giant Endesa. Mytilineos agreed to buy Endesa's 50.01 percent stake for EUR140 million, to be paid in installments by July 1, 2012. The deal gives Mytilineos a portfolio of 1.2GW of installed thermal capacity to be in service by 2011, plus 800MW of renewables projects in various stages of development. This includes over 700MW of wind power, in addition to the 36MW the company already has turning.
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