Zepos & Yannopoulos advised DEPA Commercial S.A. in a JV with GEK Terna S.A. and Gener 2 SH.P.K.

Zepos & Yannopoulos advised DEPA Commercial S.A. in a JV with GEK Terna S.A. and Gener 2 SH.P.K. for the development of the first thermal electricity production unit in Albania. Specifically, DEPA COMMERCIAL S.A. will hold a 35-percent stake in Fier Thermoelectric SHA’s equity capital. The latter was founded in September 2022 by GEK Terna and Albania-based Gener 2 to construct and operate the natural gas-fired unit, with a capacity of 174 MW, at the Relievi Roskovec site.

DEPA’s investment in this JV marks the expansion of DEPA’s activities in a new market through a strategic partnership aiming to contribute to the energy stability of the region.

Under the coordination of Zoi Stolaki, Head of Regulatory & Corporate Department, Legal Division of DEPA, our M&A team was led by Stefanos Charaktiniotis, partner and head of M&A and Project Development, and Marilisa Myrat, senior associate. Our Antitrust & Competition team was led by Stamatis Drakakakis, partner and head of our Antitrust & Competition practice group, assisted by associates, Ellie Gavriilidou and Gina Goudoulia. Anastasia Makri, head of our energy and insurance practice groups, along with Smaragda Spyrou, senior associate, carried out the contracts due diligence of this transaction.