Greek Competition Commission has approved gas utility DEPA Trade to acquire 49 % stake in local solar developer North Solar, a company with 500 MW solar portfolio in Greece. The statement from the Commission said that the proposed deal does not raise serious doubts about restricting competition and is in line with merger regulations.
North Solar is a special purpose vehicle set up to build, maintain and operate solar power plants. The company is developing solar energy projects with a total capacity of 499.1 MW in Western Macedonia region. Financial details of the transaction have not been disclosed.
