AKTOR Renewables has agreed to pursue a majority stake in a portfolio of hybrid renewable and battery projects developed with DEPA Commercial, valued at about €370 million. The move comes as Greece’s storage market shifts toward larger integrated generation portfolios. Under a binding memorandum, AKTOR would acquire 51% of the relevant project companies, while DEPA would retain 49%.
The portfolio comprises 221.1 MW of hybrid photovoltaic projects and 250 MW of standalone battery energy storage. The hybrid projects also include battery systems with maximum injection capacity of around 221.1 MW. Environmental approvals are already in place for the projects.
Despite the existing environmental clearances, the projects still require grid offers and further corporate approvals. As a result, the transaction is described as a major development milestone rather than final investment approval.
DEPA role links project ownership with electricity management
The structure is commercially notable because DEPA would manage the electricity produced by the assets. This arrangement ties asset ownership to energy trading and portfolio optimisation activities.
The approach places storage within a broader generation strategy rather than treating batteries as standalone capacity. It also reflects how project value depends on both output volumes from solar generation and the timing of electricity sales.
Hybrid design responds to Greece’s price and curtailment profile
Greek renewable economics are increasingly shaped by low midday prices, curtailment, and expensive evening periods. The shift is pushing developers away from standalone solar toward portfolios combining generation, storage, and active energy management.
Batteries can absorb production during weaker-price periods and release it during higher-value hours. A trading platform can optimise the portfolio across wholesale and balancing markets as part of that operating model.
Solar expansion and storage consolidation reshape project scale
The model is becoming more relevant as Greece’s solar fleet expands, with around 13.8 GW of photovoltaic capacity already installed. The growth in daytime supply contributes to pressure on capture prices during midday hours. At the same time, evening scarcity continues to drive sharp wholesale spikes.
The portfolio also points to consolidation in Greece’s storage market as projects move beyond pilot phases into planned capacity measured in hundreds of megawatts. Scale is increasingly important for procurement, financing, and route-to-market strategy as developers build larger integrated platforms combining generation, storage, and trading.
Overall, Greece’s renewable market is shifting from a capacity race toward a flexibility race. In that context, developers increasingly focus on controlling not only megawatts but also the timing of those megawatt-hours within market operations.
