Enel Green Power Hellas rebrands after JV deal with Macquarie

Greek renewable energy developer and operator Enel Green Power Hellas, in which Macquarie Asset Management recently took a 50% stake, has relaunched with a new name, Principia Energy.

Italian utility Enel SpA (BIT:ENEL) last year agreed to co-manage its Greek unit as a joint venture with Macquarie Asset Management by selling a 50% equity interest. At the point of completing the deal in December, Enel Green Power Hellas had a 566 MW portfolio of onshore wind, solar and hydropower projects in operation or under construction.

“The Greek market is rapidly accelerating away from fossil fuels and now holds huge potential in helping to accelerate Europe’s decarbonisation efforts,” Eric Bjonerud, managing director at Macquarie Asset Management Green Investments, said then.

“Enel Group and Macquarie Group are joining forces to make our vision a reality. With over 15 years of pioneering experience in the country, we're now more committed than ever to driving the efforts towards energy transition,” Principia Energy CEO Aristotelis Chantavas wrote on LinkedIn today.

The company held an event to present its name and corporate identity, which was attended by Greece’s ministers of environment and energy and of development, Greek media reported.

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