ABO Energy has agreed, as planned, the sale of its Hungarian and Polish subsidiaries. The Greek company PPC, the leading South-East European integrated utility Group, will acquire the two companies, including all 38 ABO Energy employees in the two countries, a development pipeline with a total capacity of around two gigawatts, and five operational solar parks with a combined capacity of 82 megawatts as well as a 17 megawatts solar farm nearing completion.

The sale will have no impact on the development of ABO Energy’s planned restructuring and financing solution.

“Following the sale of our Greek subsidiary and most of our Finnish wind power pipeline, the sale of our Hungarian and Polish subsidiaries marks another step towards focusing on those countries where we can achieve sustainable long-term commercial success,” said Managing Director Dr Karsten Schlageter. “We are pleased to have found a good solution both for ABO Energy and for the employees concerned.” Subject to the necessary regulatory approvals, closing of the transaction is expected by the end of the year.

ABO Energy has been active as a project developer in Poland and Hungary since 2019. During this time, the company has developed and sold renewable energy projects in both countries while building a substantial development pipeline. ABO Energy’s objective remains unchanged: to agree a sustainable restructuring and financing solution for the company in the coming weeks and months.