1. Construction of power plants,
2. Generation and wholesale supply of electricity, including imports,
3. Renewable Energy Sources (RES) and Combined Heat and Power (CHP) aggregators,
4. Retail supply of electricity,
5. Wholesale supply of natural gas.

Decision on the notified concentration, pursuant to Articles 5-10 of Law 3959/2011, concerning the creation of a joint venture through the acquisition of joint control by the companies “MOTOR OIL RENEWABLE ENERGY S.A.” and “TERNA ENERGY INDUSTRIAL COMMERCIAL TECHNICAL S.A.” over “AIOLIKI PROVATA TRAIANOUPOLEOS S.A.”.

Articles 5-10 of Law 3959/2011

Operative part of the Decision

1. MOTOR OIL RENEWABLE ENERGY S.A.
2. TERNA ENERGY S.A.
3. AIOLIKI PROVATA S.A.

According to Article 8 (3) of Law 3959/2011, where the HCC finds that the notified concentration, although falling within the scope of Article 6(1), does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned, it shall issue a decision approving the concentration within one (1) month from the date of full and proper notification. According to Article 7(1) of Law 3959/2011, a key criterion in merger control is whether the concentration under assessment significantly restricts competition in the national market or in a substantial part thereof, in particular by creating or strengthening a dominant position.

There are no affected markets at a horizontal and/or vertical level in the concentration considered, as the following statutory criteria are not cumulatively met in any relevant market: a) activity of at least two (2) of the parties to the concentration and a combined market share of at least 15% (regarding the horizontally affected markets) or b) activity of at least one of the parties to the concentration and a combined market share of at least 25% (regarding the vertically affected markets). In that regard, according to the evidence in the case file, the concentration is not expected to give rise to any conglomerate effects.

Therefore, any further substantive assessment of the notified concentration is unnecessary, as it is not expected to affect the level of competition or lead to a restriction thereof in the relevant markets concerned.