Global law firm Norton Rose Fulbright has advised juwi AG and juwi Hellas S.A. on the sale and contracting of Project Kozani, a 204.3 MWp solar photovoltaic power project developed close to the city of Kozani in north-western Greece, to HELPE Renewables, a company of the Hellenic Petroleum group.
A flagship project for the Greek renewable sector, this is the largest solar power project being developed to date in the country and one of the largest ever to be developed in Europe.
The completion of the transaction is expected to take place later this year.
Dimitris Assimakis, head of the Greek energy practice and partner at Norton Rose Fulbright Athens led on the deal, alongside senior associate Minas Kitsilis and associate Christina Korinthios.
“We are excited to have advised juwi group on the implementation of the largest single-site renewable energy project developed to date in the country, a landmark transaction for the Greek renewable sector. It was a challenging and complex transaction, given that it is not limited to the sale of the project rights, but also extends to the further development, construction, grid connection and maintenance of the project.
“This transaction demonstrates juwi’s unparalleled experience in the sector, Hellenic Petroleum group’s aspirations to become a leader in the Greek renewables market, and the continuous growth of the solar power market in Greece. Ultimately, this project exemplifies the transition of certain emblematic regions of the country, such as the Kozani region, away from fossil fuels towards the new green era and, consequently, the important role these regions can play in the achievement of the country’s ambitious goals for a cleaner and more sustainable environment in the years to come.”