MOTOR OIL (GREECE) CORINTH REFINERIES S.A. announces that on June 4, 2026, its subsidiary Motor Oil Renewable Energy (“MORE”) signed agreements to carry out three (3) transactions that mark the optimization of MORE’s portfolio management strategy while simultaneously reflecting the significant value of specific assets.
Two of the three transactions involve PPC Renewables S.A. (PPCR) as the counterparty. Specifically, MORE agreed to sell to PPCR a portfolio of operational wind farms with a total installed capacity of 107 MW.
In addition, MORE agreed to acquire the remaining 25% of the share capital of OUNAGKI S.A. (a holding company active in the electricity generation sector through Special Purpose Vehicles - SPVs), making the latter a wholly-owned subsidiary of MORE.
At the same time, OUNAGKI S.A. agreed to sell to PPCR its 51% stake in the share capital of a total of twelve (12) SPVs that hold a portfolio of projects under development for the generation of electricity through the construction of photovoltaic parks with a total nominal capacity of 1,175 MW.
UNAGKI S.A. retains its 51% stake in the share capital of the remaining three (3) SPVs, which hold a portfolio of energy projects under development with a total nominal capacity of 288 MW.
The consideration from the above transactions for MORE will amount to €237 million. This amount will be adjusted in accordance with the customary terms for transactions of this nature.
The completion of the transactions is subject to the fulfillment of certain customary conditions for transactions of this nature, including, among other things, the receipt of the required approvals from the relevant regulatory authorities.
The PPC Announcement
The Public Power Corporation S.A. (“PPC”) announces the conclusion of an agreement between its subsidiary PPC Renewables and MORE, a subsidiary of the Motor Oil Group for Renewable Energy Sources, for the acquisition of six operational wind farms with a total maximum capacity of 107.1 MW.
The wind farms consist of a total of 26 wind turbines in areas with strong wind potential in Fthiotida, Fokida, and Florina. Specifically:
- Kellas Wind Farm in Florina, with a total capacity of 43.2 MW
- Opountia Wind Farm in Fthiotida, with a total capacity of 3.5 MW
- Tsamadorachi Wind Farm in Fokida, with a total capacity of 22 MW
- Kato Lakomata Wind Farm in Fokida, with a total capacity of 19.2 MW
- Mikrovouno Wind Farm in Fokida, with a total capacity of 9.6 MW
- Psaromita Wind Farm in Fokida, with a total capacity of 9.6 MW
At the same time, the PPC Group agreed to acquire the remaining 51% of MORE’s stake in the share capital of a total of 12 Special Purpose Vehicles (SPVs) that are developing an equal number of photovoltaic parks in Greece with a total nominal capacity of 1,175 MW, in which the PPC Group already held a 49% stake.
Going forward, the PPC Group will hold 100% of these photovoltaic projects.
The completion of the transactions is subject to the fulfillment of certain customary conditions for transactions of this nature, including, among other things, the receipt of the required approvals from the relevant regulatory authorities.