NEWS

WFW advises RF Energy on sale of €55m renewable energy sources portfolio

3 July 2019

Watson Farley & Williams (“WFW”) advised RF Energy SA on the sale of five wind parks and two hydroelectric power plants with a 63.6MW aggregate capacity.

Specifically, RF Energy concluded agreements with subsidiaries of Egypt’s Elsewedy Electric group to sell four of its Greek subsidiaries: Kallisti Energy, Aioliki Aderes, Aioliki Kilindrias and Hydroelectric Achaias. The total purchase price was €55m, and RF Energy will retain the management and operation of all the power plants after the sale.

The WFW Athens Project & Structured Finance team advising RF Energy was led by Partner Virginia Murray, supported by Associates Vasia Zaverda and Maria Delagrammatika.

Virginia commented: “RF Energy has long-standing experience in managing and operating large scale energy projects and it was a great pleasure to work with such an expert client and professional counterparty. This is another indication of the constantly increasing confidence in the Greek energy market both nationally and internationally”.