Europe’s renewable energy market continues to attract strong investor interest, especially in regions offering stable regulation and long term visibility on revenues. Greece has emerged as one such hotspot, combining ambitious energy transition goals with favorable tariff structures. Asterion’s latest acquisition highlights how infrastructure investors are doubling down on scalable, diversified clean energy platforms.

This blog unpacks Asterion’s acquisition of a 50 percent stake in a major Greek renewable portfolio, the strategic rationale behind the deal, and what it means for the European energy transition.

On December 17, 2025, Asterion announced the acquisition of a 50 percent stake in a renewable energy portfolio in Greece from TotalEnergies. The transaction was completed at an enterprise value of approximately 298.64 million dollars, implying a total portfolio valuation of around 597.27 million dollars. TotalEnergies will retain the remaining 50 percent stake and continue operating the assets, ensuring continuity and operational expertise. This investment will be integrated into Asterion’s European renewable platform, strengthening its mid market infrastructure footprint and reinforcing its long term commitment to clean energy assets with predictable cash flows.

The portfolio comprises a total installed capacity of 424 megawatts, including 374 megawatts of fully operational assets and 50 megawatts currently under construction. It offers a balanced mix of technologies, with 204 megawatts of solar photovoltaic capacity and 220 megawatts of wind power. The assets are spread across key Greek regions such as the Peloponnese, East Macedonia and Thrace, and Central Greece, reducing geographic concentration risk. One notable asset within the portfolio is the 70 megawatt Xirokambi solar project in the Peloponnese, which reached commercial operations in February 2024. All projects benefit from long term regulated fixed tariff arrangements, providing revenue certainty and downside protection.

Once regulated tariffs expire, TotalEnergies will manage the offtake and marketing of most of the electricity produced, leveraging its scale and trading expertise to optimize revenues. This structure allows Asterion to focus on portfolio growth while relying on an experienced operator for commercial execution. Advisors Clifford Chance and EY supported Asterion on the legal and financial aspects of the transaction, reflecting the complexity and scale of the deal. A comparable model has proven successful across Europe, where partnerships between infrastructure funds and strategic operators unlock value while maintaining operational efficiency.

In summary, Asterion’s acquisition marks a significant step in expanding its European renewables platform through a diversified, cash generating portfolio in Greece. As demand for stable renewable investments grows, partnerships like this will continue to shape the continent’s clean energy landscape.

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