Reed Smith has advised PPC Renewables on its acquisition of a wind projects portfolio – totaling approximately 164 megawatts – from Intrakat as well as on the parties' strategic cooperation on developing a further 1.6 gigawatts in renewable energy projects. Argyropoulos-Gissaki & Associates reportedly advised Intrakat.
According to Reed Smith, "the transaction corresponds to an enterprise value of EUR 100 million for the percentage participation of PPC Renewables, while the value of the joint investment, in its potential full development, is estimated to exceed EUR 1 billion."
PPC Renewables is the renewable energy arm of Greece's Public Power Corporation, a power and utilities company operating in Southeast Europe.
The Intrakat Group operates in the Greek construction sector and is engaged in the development of large-scale infrastructure projects, the construction of commercial and industrial facilities, as well as the manufacturing of steel structures. The group is also actively involved in a wide range of other business activities such as telecoms, renewables, environmental management, and the development of real estate projects.
The Reed Smith team included Partner Dimitris Assimakis, Counsel Minas Kitsilis, Senior Associate George Fountas, and Associates Georgia Koui, Zissis Papazissis, and Eleni Alexiou.
