The Competition Commission has approved the creation of a joint venture through the acquisition of joint control by More and Terna Energy over Aeoliki. 

The Commission's decision notes that the concentration does not raise serious doubts as to its compatibility with the competition requirements in the individual markets concerned. It is noted that Aeoliki holds one of the first offshore pilot exploration licenses in Greece.

THE DECISION

According to the announcement, More is active in the production and trading of electricity from RES, managing wind and photovoltaic parks with a total capacity of 839 MW. Terna Energy is engaged in the construction and operation of renewable energy facilities, while Aeoliki, a wholly owned subsidiary of Terna Energy, will enter the wholesale generation and supply of electricity. The Commission examined the nature of the transaction, which involves the change of sole control of Aeoliki into joint control, and its impact on the relevant markets, such as electricity generation and supply, power plant construction and gas supply. It found that there would be no substantial change in the conditions of competition and no risk of coordination of the parent companies' behaviour.