Anemos leads Greece IPO revival

Eltech Anemos – the renewable energy subsidiary of Greek construction group Ellaktor – will stage an initial public offering (IPO) of shares on the Athens stock market, said the company.

The IPO by Eltech Anemos will reportedly be the first on the Athens market since the Greek debt crisis began in 2009, with the company seeking to raise €6.2m ($8.5m) by offering over 20 million new shares.

After entering the renewable energy sector in 2001, Ellaktor Group now operates 12 wind farms and one PV plant domestically totalling 149MW in capacity, with 80MW currently under construction, according to the company's website.

It adds that "long term financing has been secured for all the projects that are currently under construction" and that around 200MW worth of business opportunities are being evaluated abroad.