Asterion, an independent investment management firm specializing in European mid-market infrastructure, has announced the acquisition of a 50% stake in TotalEnergies Greece’s renewable energy assets. The portfolio, totaling 424 MW, includes both wind and solar projects currently operating in Greece. The stake, purchased from TotalEnergies, will be integrated into Asterion’s European renewable platform. The transaction implies a total portfolio valuation of €508 million, or approximately €1.2 million per installed MW.

TotalEnergies will retain the remaining 50% stake and continue operating the assets. Once the existing regulated tariffs expire, the company will manage the offtake and marketing of most of the electricity produced.

The portfolio offers Asterion a strategic entry into the Greek power market, supported by a favorable regulatory environment and strong incentives for renewable energy. It includes 374 MW of operational assets and 50 MW under construction, with a mix of 204 MW of solar PV and 220 MW of wind projects. Key locations include the Peloponnese, East Macedonia & Thrace, and Central Greece, regions recognized for their high-quality wind and solar resources.

“This acquisition offers a unique opportunity to enter the Greek power market through a fully de-risked and high-quality renewable portfolio. This transaction strengthens the growth trajectory of our European renewable platform as it evolves into a pan-European player with a long-term ownership approach. We are excited to support its continued expansion while contributing to Europe’s energy transition,” said Beatriz Trocolí, Operating Partner at Asterion Industrial Partners.

The acquisition complements Asterion’s existing renewable platform and its portfolio company, Revalue Energies, one of Italy’s leading independent power producers (IPPs). Revalue Energies has secured around 150 MW of contracted capacity through Italy’s renewable auctions and is projecting more than 350 MW of operational, under construction, or ready-to-build projects by the end of 2026. Its development pipeline currently exceeds 3 GW.

By combining Revalue Energies’ long-term ownership model with TotalEnergies’ operations in Greece, Asterion aims to expand its presence across key European markets. With the addition of the Greek assets, the firm’s renewable platform will approach 0.5 GW of operating capacity and surpass 3 GW under development.