ContourGlobal enters Greece with Acquisition of 500 MW Battery Storage portfolio and 37 MWp of operating solar PV

Athens, January 23rd, 2026

• Strategic entry into the Greek market with acquisition of about 37 MWp operational solar PV portfolio and 500 MW / 2,000 MWh of battery storage assets across Greece.

• Solar PV portfolio fully contracted under FiT and FiP schemes, generating ~51 GWh annually.

• First 100 MW of merchant BESS to start construction soon, expected in commercial operation by early 2027.

ContourGlobal has entered the Greek renewable energy market with the acquisition of about 37 MWp operational solar PV portfolio and 500 MW / 2,000 MWh of battery energy storage systems (BESS) in mature state of development, of which the first 100 MW are ready to break ground in the coming months. This major step in the company’s expansion in the European renewables and grid-scale storage landscape follows the recent announcement of the commissioning of one of the largest operating BESS in Eastern Europe in the neighboring country of Bulgaria.

“While continuing our simplification and rationalization effort, entering the Greek market is a further step in ContourGlobal ambition to become a leading independent power producer in renewables and energy storage.”, said Antonio Cammisecra, CEO of ContourGlobal. “Greece combines rapidly growing renewable penetration with a booming need for large-scale storage solutions. Building on our experience operating large-scale BESS projects from Chile to Bulgaria and on the developments already underway in the United States, we see Greece as a key market to scale our battery storage portfolio in Europe and support the country’s energy transition”.

The Greek solar portfolio comprises 26 operating PV plants across the country, commissioned between 2011 and 2022 and previously owned by Quest Energy, a subsidiary of the listed Greek group Quest Holdings. With a total installed capacity of about 37 MWp, the assets are fully contracted under FiT (Feed-in Tariff) and FiP (Feed-in Premium) supporting schemes, providing both predictable and premium revenues. The portfolio’s expected yearly generation is of approximately 51 GWh, enough electricity to power up to 15,000 Greek households per year. AXIA Ventures Group and Koutalidis Law Firm have acted respectively as ContourGlobal’s financial advisor and legal counsel and TUV NORD Greece for the Technical Due Diligence.

The acquisition of the Quest portfolio was one of the first transactions to be filed and approved unconditionally under the new Foreign Direct Investment (FDI) directive in Greece. The FDI approval process places strong emphasis on the review of acquisitions of critical assets in energy and infrastructure through foreign investors.

In parallel, ContourGlobal has acquired in recent months the full ownership of six battery storage projects through two different transactions with developers FRV (Fotowatio Renewable Ventures, from Spain) and Zephiros (a Greek developer), totaling 500 MW / 2,000 MWh of battery storage capacity across different regions.

The first project, Taxiarches, is a 100 MW / 400 MWh ready-to-build (RtB) facility located Thessaly, with construction scheduled to begin in the first quarter of 2026 and commercial operation expected by early 2027. This project will be built in the Municipality of Farkadona, Regional Unit of Trikala and is set to become one of the first operational merchant BESS facilities in Greece, providing four hours of storage capacity to support renewables integration and grid flexibility.

The second transaction includes up to 400 MW / 1,600 MWh of additional BESS capacity across six projects. All projects have secured environmental approvals, key permits, and have applied for grid connection. They are fully eligible under Greece’s Priority Regime for BESS Projects, launched in March 2025 to fast-track up to 4.7 GW of standalone battery storage.

ContourGlobal was supported in these two transactions by Norton Rose Fullbright Greece for Legal assistance, BakerTilly Greece for the Financial Due Diligence, and TUV NORD Greece for the Technical Due Diligence.

Although Greece is a relatively small power market in Europe with 24 GW of installed capacity, it is the second-largest in the Balkan region and is experiencing rapid growth in renewables. While historically dominated by lignite and gas, the country is accelerating renewable development, with solar and wind capacity projected to reach around 60 GW by 2060. At the end of the current decade, nearly 70% of installed capacity and electricity generation are expected to come from renewable sources, increasing the need for flexible, grid-scale storage. Moreover, the country is projected to become a net exporter of electricity from 2026.

Alongside these acquisitions, ContourGlobal continues to assess further development opportunities in Greece as part of its long-term growth strategy in renewables and battery storage.

These transactions strengthen ContourGlobal’s European platform for further growth in renewables and battery storage, building on its established presence in Italy, Spain and Austria, in addition to reinforcing its footprint in southeastern region with Bulgaria and now Greece.