Evryo Group, whose assets are under the control of Macquarie Asset Management, has sold a sizable portion of its renewable energy portfolio to PPC.

The portfolio includes projects with a total installed capacity of 629 MW in operation and approximately 145 MW under development, strengthening the group's growth strategy in Romania and South-Eastern Europe.

According to the announcement, the transaction represents an enterprise value of approximately €700 million, which is in line with previous transactions in the market and with the acquisition price subject to customary adjustments. 

The acquisition adds a significant portfolio of renewable energy projects in operation, which includes 600 MW of onshore wind farm projects, 22 MW of small hydroelectric power plants, 1 MW of floating PV, 6 MW of battery energy storage systems, and approximately 145 MW under development. Upon completion of the agreement, PPC's in-service renewable energy portfolio in Romania will be doubled, and the total installed capacity of the PPC Group will reach 5.3 GW. 

As stated in the announcement, "PPC Group has extensive experience in RES operation, with a significant development portfolio of mainly photovoltaic projects in Greece. This agreement expands and diversifies the Group's RES activities as it adds large wind power projects and hydroelectric plants in the Romanian region.

The financing of the acquisition is structured to be in line with the PPC Group's financial policy and remains within the target range regarding the group's leverage cap. Upon completion of the transaction, the PPC Group will add EBITDA of approximately €100 million on an annual basis.".