AKTOR plans €1.2B investment in two pumped-storage projects

Specifically, AKTOR Renewables Single-Member S.A., a wholly owned subsidiary of AKTOR, signed an agreement on September 3, 2026 to acquire 100% of the corporate interests in “Aliakmonas 1 IKE” and “Aliakmonas 2 IKE.” The two companies are the development vehicles for the “Flambouro” and “Trani Rachi” pumped-storage projects, respectively.

More than 1 GW of capacity

The “Flambouro” project holds an electricity storage licence with a maximum injection and absorption capacity of 450 MW. The “Trani Rachi” project, meanwhile, has a maximum injection capacity of 594 MW and a maximum absorption capacity of 600 MW.

Overall, the two projects have a licensed maximum injection capacity of 1,044 MW and a maximum absorption capacity of 1,050 MW, placing the investment among the largest energy storage projects currently planned in Greece.

The projects have also received Environmental Impact Approval Decisions. Their further development will proceed following completion of the required permitting procedures and the securing of the necessary grid connection terms and financing.

€1.2 billion investment

The total investment, once the two projects have reached full maturity and development, is estimated at approximately €1.2 billion.

Financing is expected to comprise a combination of equity and debt, while the investment is estimated to take approximately six years to complete.

The transaction remains subject to the fulfilment of customary conditions precedent for transactions of this nature. At the same time, implementation of the projects is contingent on the completion of the permitting procedures, securing grid connection terms, obtaining the required financing and satisfying the remaining contractual conditions.

Energy storage in focus

The agreement forms part of AKTOR’s broader development strategy in the energy and construction sectors, as well as its efforts to leverage synergies between the two activities.

Pumped-storage hydropower is a strategically important technology for the energy transition, as it can provide large-scale energy storage by absorbing electricity when generation is available and releasing it back into the system when demand increases.

For AKTOR, the acquisition of the two projects expands its energy portfolio and strengthens its position in the renewable energy and energy storage markets, at a time when the increasing penetration of renewable energy sources is making large-scale infrastructure essential for the stability and flexibility of the electricity system.

The company is expected to keep the investment community informed of further developments, in accordance with the applicable regulatory framework and its disclosure obligations.