AKTOR is targeting a 51% stake in DEPA Commercial’s €370 million hybrid portfolio, as Greece moves toward larger integrated storage projects. Under a binding memorandum, AKTOR would acquire majority control of the relevant project companies while DEPA Commercial retains 49%. The portfolio combines 221.1 MW of hybrid photovoltaic capacity with 250 MW of battery energy storage.
The transaction covers project companies tied to a portfolio valued at around €370 million. AKTOR’s planned acquisition is structured through a binding memorandum, with ownership split at 51% for AKTOR and 49% for DEPA Commercial. Environmental approvals have already been secured for the projects involved.
Hybrid photovoltaic projects in the portfolio total 221.1 MW, and they also include battery systems with a maximum injection capacity of approximately 221.1 MW. In addition to these hybrid assets, the portfolio includes 250 MW of standalone battery energy storage capacity. The projects are still subject to grid connection offers and additional corporate approvals, meaning the deal represents a development milestone rather than final investment approval.
The structure links electricity trading responsibilities with asset ownership. DEPA Commercial would manage the electricity generated by the portfolio, connecting operational control with electricity trading and portfolio optimisation. This arrangement is intended to support how generation and storage output are handled across market conditions.
Battery-backed solar economics in Greece
Greece’s renewable market economics are being shaped by low midday prices, renewable curtailment and higher evening prices. The resulting price pattern is encouraging developers to move beyond standalone solar projects toward integrated portfolios combining generation, storage and energy management. The AKTOR-DEPA structure reflects this shift in how project value can be captured.
The commercial value of the portfolio depends not only on electricity volumes from the solar assets, but also on timing of delivery to the market. Battery systems can absorb solar generation during periods of weak or negative prices and release it during higher-value hours. An integrated trading platform can optimise the portfolio across wholesale and balancing markets.
As Greece expands its solar fleet, the impact of daytime oversupply on prices becomes more relevant for dispatch decisions. The country has installed around 13.8 GW of photovoltaic capacity, which increases pressure on daytime capture prices as more generation enters simultaneously. Even so, evening scarcity can still lead to significant wholesale price spikes.
Consolidation toward larger storage portfolios
The portfolio also reflects consolidation in Greece’s battery storage sector as projects scale up beyond early-stage development. Storage portfolios measured in hundreds of megawatts are increasingly tied to equipment procurement, financing, grid access and route-to-market strategies. In this context, a portfolio valued at around €370 million is positioned as more than a set of individual projects.
The proposed platform model combines renewable generation, battery storage and electricity trading under a coordinated commercial strategy. It also provides developers with flexibility in managing renewable output by determining when electricity should be injected into the market using batteries and trading capabilities. This approach operates within technical and market constraints.
Greece’s broader renewable transition is described as moving from adding capacity toward focusing on flexibility and energy optimisation. With battery storage playing a larger role, project value is not determined solely by installed megawatts or annual production figures. Instead, shifting output, managing market exposure and participating across multiple electricity markets are increasingly part of project economics.