Zepos & Yannopoulos advised MORE (Motor Oil Renewable Energy) and its platform company Unagi S.A. on two interrelated transactions in the renewable energy sector, marking a significant step in the strategic repositioning of MORE's photovoltaic portfolio.
Under the first transaction, MORE acquired the remaining 25% of Unagi, thereby securing 100% ownership of the platform. In the second transaction, Unagi sold a 51% stake in a portfolio of 12 photovoltaic projects under development, with a total nominal capacity of 1,175 MW, to PPC Renewables, which already held the remaining 49% of the portfolio. As a result, PPC Renewables now holds 100% of these photovoltaic projects.
These transactions form part of MORE's strategy of active portfolio management, enabling the timely crystallisation of value from mature assets while significantly enhancing the company's financial flexibility. They reflect MORE's commitment to actively managing its portfolio and provide the financial resources needed to independently fund its next phases of development in the renewable energy sector, through and beyond 2030.
Our firm assisted MORE and Unagi on all aspects of the two transactions, which ran in parallel and completed on a coordinated timeline, including the drafting and negotiation of the transactional and ancillary documentation. Our deal team comprised Stefanos Charaktiniotis, head of M&A, Stathis Orfanoudakis, partner, Maria Bozinaki, senior associate, and Celia Karvouni, associate.