Cubico Sustainable Investments (Cubico), a leader and global investor in renewable energy, has completed the acquisition of Aoliki Panachaikou SA, the owner of two operational onshore wind farms in Greece, from Enora.

The wind farms have a combined capacity of 48.5 MW and are located in the Panachaiko mountains. Enora and its sister company Enteka Services will continue to manage the sites, ensuring a smooth transition of ownership.

Cubico was supported by Katatzas and Partners (legal), Natural Power (technical), Marsh (insurance) and Grant Thornton (financial and model audit).

Cubico now owns almost 100 MW of operational assets in Greece and recently announced the commencement of a 12 MW extension to one its sites. The company is actively looking to grow its portfolio in Greece through solar PV and onshore wind opportunities.

David Swindin, Head of EMEA at Cubico, said: “The Greek renewables market has demonstrated its resilience during the global pandemic and we are encouraged by the macroeconomic outlook for the long-term.

“We see continued growth potential in the market and anticipate adding to our portfolio in the coming months with both brownfield and greenfield projects.”

Alessandro Asperti, Country Head for Italy and Greece at Cubico, added: “The acquisition of these wind farms is an important milestone for Cubico in Greece and underpins our commitment to renewables in the country.

“As part of our strategy to be long-term owners and operators, Cubico opened an office in Athens last summer and we look forward to growing our local team on the back of this transaction.”