Motor Oil announces acquisition of 75% of UNAGI

Motor Oil on Friday announced the acquisition of 75% of UNAGI A.E., which operates in the photovoltaic sector.

Motor Oil announces acquisition of 75% of UNAGI

In particular, UNAGI owns a 51% share in a portfolio of photovoltaic projects in various stages with a total nominal capacity of 1.9 GW in Greece and the transaction was made through the subsidiary MOTOR OIL RENEWABLE ENERGY (MORE).

“This transaction brings Motor Oil closer to its target of 2.0 GW of renewable energy deployment by 2030, while significantly increasing the strength of projects under development for MORE by adding mature projects that will receive connection terms in a short period of time,” the company announced.



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