Ashurst advises Trina Solar on sale of operating solar portfolio in Greece

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    The solar portfolio consists of a total volume of around 16 MW, PV projects all located in the Viotia region in Greece, commissioned by Trina Solar between 2013 and 2014. These projects have a strong performance track record, and also benefiting from the Feed in Tariff mechanism, which is in place for a number of years to come.

    Trina Solar will carry on its investment strategy in the Balkan region through the development of a new portfolio of solar projects. Over the last two decades, Trina Solar has emerged as a top-tier project developer and has more than 1GW of projects under development in several countries in Europe, including Spain, Italy, France, Greece and the UK.

    The transaction also marks an important investment for Hellenic Petroleum, that strengthening its strategy in the renewable energy sector, and helping to diversify the Group’s energy portfolio and contributing to balancing its greenhouse gas emissions.

    The Ashurst team was led by counsel Annamaria Pinzuti, supported by associates Federico Piccione and Cristiana Montesarchio for the M&A and transactional aspects.

    The Trina Solar team was led by Leonardo Lotti, Head of Europe of International PV System Business Unit, at business level and by Valentina Mercati, Head of Legal Italy, Greece & UK, supported by legal counsel Chiara Napolitano and junior legal Counsel Andrea De Santis for the legal aspects.