Creative Commons

This dissertation was written as part of the LLM in Transnational and European Commercial Law, Banking Law, Arbitration/Mediation at the International Hellenic University. This research document aims to focus on Mergers & Acquisitions (“M&A”) in the energy sector and especially to the legal challenges arising out of M&A when the transfer of Renewable Energy Sources ("RES") projects is involved either under installation or in operation. Notably enough, the Greek legal framework is extremely complex on this matters, so in this research special emphasis is given to the legal due diligence of the project under acquisition in terms of compliance with the provisions relating to the licensing of the project depending on how mature the licensing process is [legal risks vary depending on the phase (i.e. license production, approval of the environmental conditions [AEPO], granting of an installation permit, etc.)], what is the optimal format with which the final transfer shall be made to the interested party (asset or share deal) as well as the property on which the station will operate and the handling of any current legal engagements (e.g. transfer of lease agreement). Also, an important particularity in contrast to the more typical transfers in other sectors or industries is the involvement of the competent regulators- energy network operators and the stage of their operation, as well as the complex legal framework governing this activity. Moreover, some conclusions related to the motives for mergers and acquisitions in the energy sector will be presented.