Motor Oil buys into solar energy company
Motor Oil on Friday announced the acquisition of 75% of Unagi AE, which operates in the photovoltaic sector.
In particular, Unagi owns a 51% share in a portfolio of photovoltaic projects at various stages with a total nominal capacity of 1.9 gigawatts in Greece and the transaction was made through the subsidiary Motor Oil Renewable Energy (MORE).
“This transaction brings Motor Oil closer to its target of 2.0 GW of renewable energy deployment by 2030, while significantly increasing the strength of projects under development for MORE by adding mature projects that will receive connection terms in a short period of time,” the company announced.
