Public Power Corporation, a Greek integrated utility group operating in south-east Europe, has agreed to purchase the Polish and Hungarian subsidiaries of ABO Energy. The transaction encompasses all 38 employees working in these two countries, along with renewable energy assets and development rights.
The acquired portfolio includes five operational solar parks with combined capacity of 82MW and a 17MW solar facility under construction. Additionally, PPC will obtain a development pipeline containing approximately 2GW of projects. The deal transfers ownership of the Szarvas solar park in Hungary, which was commissioned in 2024. Financial terms of the transaction were not disclosed.
ABO Energy characterized the sale as part of its broader restructuring initiative and stated that the transaction aligns with the company’s planned financing solution. The sale will not interfere with these ongoing efforts, according to the company. Managing director Dr Karsten Schlageter noted that the divestiture represents another step in redirecting the company toward markets where it can achieve sustainable commercial returns, following previous sales of its Greek subsidiary and most of its Finnish wind power pipeline.
The companies anticipate completing the transaction by year-end pending necessary regulatory approvals. ABO Energy has maintained operations in Poland and Hungary since 2019, developing renewable energy projects and building a substantial pipeline in both markets. The company stated its continuing objective is to finalize a sustainable restructuring and financing arrangement in the coming period.
ABO Energy operates globally as a developer and constructor of wind and solar farms alongside battery and hydrogen projects. Last year, the company sold a 4.4GW wind energy portfolio consisting of 29 projects in Finland to Fortum for €40m on a cash and debt-free basis.
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