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ABO Energy sells its Greek subsidiary to HELLENiQ ENERGY Holdings

ABO Energy is selling its subsidiary ABO Energy Hellas and an energy project portfolio of approximately 1.5 gigawatts to HELLENiQ ENERGY Holdings, thus refocusing its strategic resources towards other markets, notably Germany, without major financial impact anticipated for 2025.

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The German company ABO Energy has announced the sale of its subsidiary ABO Energy Hellas S.A. to the energy group HELLENiQ ENERGY Holdings. The transaction includes all the subsidiary’s employees, along with a portfolio of solar, wind, and battery storage energy projects representing a total capacity estimated at 1.5 gigawatts. Both companies have agreed not to publicly disclose the transaction amount and its detailed terms. According to ABO Energy, this sale will not have any significant impact on the group’s financial results for the 2025 fiscal year.

Strategic resource realignment

Since 2019, ABO Energy has developed and sold five solar parks in Greece, totalling an installed capacity exceeding 100 megawatts. The Margariti solar park, located in the Epirus region and commissioned in 2023 with a capacity of 50 megawatts, was the company’s largest project in the country. Activities in Greece notably contributed to ABO Energy’s consolidated revenue, representing 15% in 2020 and 9% in 2023.

Although the company is now ceasing project development in Greece, it will maintain local activity by providing technical and commercial services for the solar parks already built. ABO Energy’s Managing Director, Dr Karsten Schlageter, explains this decision by highlighting the clear aim of organisational simplification and strategic refocusing: “The sale of our Greek subsidiary improves our chances of success, reduces complexity within the ABO Energy group, and enables us to better concentrate our activities.”

Priority on Germany and new markets

The executive specifies that the company currently prioritises deploying resources towards other strategic markets deemed more attractive, particularly Germany. ABO Energy intends to leverage its proven experience in opening up new international markets, while emphasising that Greece remains attractive in the renewable energy sector.

The acquiring group, HELLENiQ ENERGY Holdings, initially founded as Hellenic Petroleum in 1998, operates in seven countries in Southeast Europe. The company currently holds a renewable energy development pipeline exceeding 6 gigawatts, with a strategic objective of achieving at least 2 gigawatts of effectively installed capacity by 2030.

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