Motor Oil Hellas to acquire a 75% stake in the Renewable Energy Sources division of Ellaktor for $675m.

Motor Oil Hellas, a petroleum industry based in Greece, agreed to acquire a 75% stake in the Renewable Energy Sources division of Ellaktor, the largest infrastructure group in Greece, for $675m. Following this transaction, MORE will become a leading force in the field of RES, one of the largest RES producers in Greece and one of the most important in Southeastern Europe. MORE’s RES portfolio will be capable of supplying about half a million households with green energy. At the same time, MORE will continue to develop a combined portfolio of 2.3GW capacity at various stages of development.