Asterion acquires 50% of TotalEnergies Greece renewables assets to strengthen its platform

Madrid 17 December – Asterion, an independent investment management firm focused on European mid-market infrastructure, announces the acquisition of a 50% stake in TotalEnergies Greece renewable assets, a 424 MW operating wind and solar portfolio in Greece. The stake, acquired from TotalEnergies, will be added to Asterion’s European renewable platform. The transaction implies a total portfolio valuation of €508 million, equivalent to approximately €1.2 million per installed MW.

 

TotalEnergies will retain the remaining 50% stake and continue to operate the assets. Once the existing regulated tariffs expire, the company will handle the offtake and marketing of most of the electricity produced.

 

These renewables assets give Asterion a strategically compelling entry into the Greek power market, supported by a favorable regulatory environment and strong incentives for renewable energy. The portfolio includes 374 MW of operational assets and 50 MW under construction, diversified across 204 MW of solar PV and 220 MW of wind, and located in key Greek regions—Peloponnese, East Macedonia & Thrace, and Central Greece — known for their superior wind and solar resource.

 

This acquisition offers a unique opportunity to enter the Greek power market through a fully de-risked and high-quality renewable portfolio. This transaction strengthens the growth trajectory of our European renewable platform as it evolves into a pan-European player with a long-term ownership approach. We are excited to support its continued expansion while contributing to Europe’s energy transition,” highlights Beatriz Trocolí, Operating Partner at Asterion Industrial Partners.

 

With this acquisition, Asterion expands its renewable platform alongside its portfolio company, Revalue Energies, one of Italy’s leading Independent Power Producers (IPPs). Revalue Energies continues to deliver solid and sustained growth across the renewable value chain, having secured approximately 150 MW of contracted capacity through Italy’s renewable auctions and projecting a portfolio of more than 350 MW to be operational, under construction or ready to build by the end of 2026. This trajectory is underpinned by a robust development pipeline exceeding 3 GW.

 

The combination of Revalue Energies’ long-term ownership model with TotalEnergies in the Greek market, reinforces Asterion’s strategic vision to expand its presence across key European geographies. With the addition of the Greek asset portfolio, Asterion’s renewable platform will approach 0.5 GW of operating capacity and exceed 3 GW under development.

 

Asterion was advised by Clifford Chance on legal, and EY on financial and tax.