Asterion 50% stake TotalEnergies Greece renewables

In a strategic move to scale its European mid-market infrastructure platform, Asterion Industrial Partners has agreed to acquire a 50% stake in TotalEnergies Greece renewables assets. The portfolio comprises a 424 MW wind and solar mix, with 374 MW operational and 50 MW under construction, located across key Greek regions such as the Peloponnese, East Macedonia & Thrace, and Central Greece. The deal anchors a portfolio valued at approximately €508 million, equating to around €1.2 million per installed MW, and positions Asterion to expand its European renewables footprint as TE retains the remaining half and continues to operate the assets.

The transaction marks a meaningful foray into Greece’s evolving energy landscape, underpinned by a regulatory regime that has historically rewarded renewable deployment and is supported by incentives designed to accelerate the energy transition. By integrating the Greek assets into its broader platform, Asterion strengthens its ability to optimize long-term PPA structures, offtake strategies, and cross-portfolio synergies as it moves toward a pan-European scale.

As part of the broader strategy, the Revalue Energies platform—already a cornerstone of Revalue Energies in Italy—continues to advance with a robust development pipeline and contracted capacity. Asterion notes that Revalue Energies has secured roughly 150 MW of contracted capacity through Italy’s renewable auctions and is targeting more than 350 MW for operation, construction or ready-to-build status by the end of 2026, with a development pipeline exceeding 3 GW.

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

The deal arrangement involved Clifford Chance providing legal counsel and EY handling financial and tax advisory services. The collaboration underscores Asterion’s emphasis on rigorous governance and value creation as it combines TE’s Greek assets with its existing IPP network. With the Greek acquisition, Asterion projects that its renewables platform will approach 0.5 GW of operating capacity and exceed 3 GW under development across Europe, signaling a meaningful acceleration of its energy transition agenda.