About

The history of Athena is a long story of a company

It spent its younger years as a local savings bank and later as an investment bank. In 1998, it changed its name into Grentech and started focusing on operating renewable energy projects. In 2017, the Company changed its name into Athena and expanded its company objects in order to broaden the future business platform.

History

Below Athena presents some of the highlights of the Company’s history so far.

July 2019

Athena Investments announced that the sale of some of its wind and solar assets located in Italy and Spain to Ardian Infrastructure and Glennmont Partners has been completed.

June 2019

Athena has entered into an agreement with Ardian Infrastructure and Glennmont Partners for the sale of the following of Athena’s wind and solar assets in Italy and Spain: 50% ownership interest in Monte Grighine wind farm (98.9 MW), 100% of Cerveteri solar plant (8.7 MW), 100% of Nardò Caputo solar plant (9.8 MW), 100% of La Castilleja solar plant (9.8 MW), 100% of Conesa wind farm (30.0 MW), 100% of the Minerva Messina wind farm (48.3 MW).

May 2019

Athena received binding offers from Ardian Infrastructure  and Glennmont Partners for the acquisition of some of its wind and solar assets in Italy and Spain.

November 2018

The Board of Directors elected Peter Høstgaard-Jensen as its Chairman and Sigieri Diaz della Vittoria Pallavicini was confirmed as its Deputy Chairman.

November 2018

Mr. Luca Rovati and Mr. Alessandro Rovati resigned from their position respectively as Chairman and member of the Board of Directors of the Company for personal reasons.

November 2018

Athena completed the transaction for the sale of its Polish wind portfolio to a private Polish investor. Following the sale of the Polish turbines, Athena no longer owns renewable energy plants in Poland.

April 2018

During the AGM Mr. Sigieri Diaz della Vittoria Pallavicini and Mr. Alessandro Rovati were elected as new members to the Board of Directors.

The Board of Directors subsequently elected Luca Rovati as its Chairman and Peter Høstgaard-Jensen and Sigieri Diaz della Vittoria Pallavicini as its Deputy Chairmen.

January 2018

Athena completed the transaction for the sale of its German wind farm Gehlenberg to Energiequelle. Following the sale of the German turbines, Athena no longer owns renewable energy plants in Germany.

December 2017

Athena completed the transaction for the sale of its Danish wind portfolio to Wind Estate A/S. Following the sale of the Danish turbines, Athena no longer owns renewable energy plants in Denmark.

Greentech changed the company name into Athena Investments A/S and expanded the company objects.

February 2017

Greentech finalized the definitive exit from the Environment division through the sale of Gruppo Zilio.

December 2016

Greentech signs the definitive agreement for the acquisition of the remaining stake (50%) of La Castilleja solar plant from its coshareholder Foresight Group.

September 2016

Greentech sold its Spanish Fotocampillos solar plant (2.10 MW) to Vela Energy S.L.

March 2016

Greentech sold three of its Polish wind projects: Parnowo, Ustka and Smolęcin to a subsidiary of EDF EN POLSKA SP. Z.O.O owned by EDF Energies Nouvelles

 

November 2015

Greentech officially filed a request for arbitration against the Kingdom of Spain pursuant the Energy Charter Treaty

 

July 2015

Greentech officially filed a request for arbitration against the Republic of Italy pursuant the Energy Charter Treaty

 

June 2015

Greentech sells its 50% stake of Wormlage and Tiefenthal wind plants to Nordenergie A/S.

 

October 2014

Mr. Alessandro Reitelli was appointed as new CEO of the Group. Mr. Francesco Vittori was apponted as new CFO of the Group.

 

April 2014

During the AGM Mrs. Michèle Bellon is elected as new member to the Board of Directors

 

April 2013

During the AGM Giorgio Bruno from Pirelli and Giovanni Ferrari from Banca Intesa are elected as new members to the Board of Directors

 

March 2013

The Company signs the Term Sheet of a majority Joint Venture (JV) agreement with Foresight Group for new investments in solar PV projects in the USA

 

February 2013

The project financing of a 24 MW Wind Farm in Cagliari (Sardinia – Italy) is completed

 

January 2013

The 50% stake of the Wojciechowo project is sold to PGE Energia Odnawlalna S.A.

 

December 2012

Three new solar plants of 2 MW were acquired from Pirelli Group in the end of December bringing total installed capacity from 290 to 318 MW gross

November 2012

Cagliari II project (Energia Alternativa) entered into full operation.

Alessandro Reitelli is appointed as new CFO and COO ad interim.

February 2012

Signed the final agreement regarding the sale of the Monte Grighine substation to Terna (the Italian grid company) at a price of EUR 3.59M

January 2012

The same prosecutor that had legally seized all the 16 turbines of the Cagliari II project for alleged administrative violations in June 2011 (see Company Announcement No 14/2011) unseized the plant completely.

August 2011

The “new” Greentech is a reality with the combination of Greentech energy Systems A/S and GWM Renewable Energy S.p.A.

May 2011

Greentech and GWM Renewable Energy sign an agreement to combine the two groups:
Greentech is to make a share capital increase in favour of GWM RE upon contribution in kind of GWM RE’s renewable assets including GWM RE’s shares in GWM Renewable Energy S.p.A. The transaction is subject to a satisfactory due diligence, obtaining of all relevant authority approvals etc. and is expected to be completed prior to the end of August 2011.

End 2010 - Q1 2011

The new Board of Directors and Management performs a thorough legal, financial, accounting and business review of Greentech resulting in the restructuring of the organisation and activities and leading to the definition of a new strategy based on:
  • Growth through greenfield development, mergers and acquisitions of operating assets
    • Technology diversification (wind, solar, hydro, biomass)
  • In January 2011, Greentech announces that development of the Company’s first solar project (30 MW) in Sardinia is at an advanced stage
  • Geographical expansion in other European countries
 
The overall goal is to become a leading company in the European renewable energy market with 1 GW of operating assets.

November 2010

Sigieri Diaz della Vittoria Pallavicini takes over as Chief Executive Officer. Eugenio de Blasio is appointed Deputy CEO and Mark Fromholt is confirmed as CFO.

October 2010

A new International Board of Directors is installed.

September 2010

Italian investor GWM Renewable Energy becomes the largest shareholder in Greentech (with a shareholding of ~29%)

Q2/Q3 2010

The two major projects in Italy: Minerva Messina and Monte Grighine with a total net capacity of 98 MW become fully operational.

May 2009

Greentech establishes a strategic partnership with EDF Energies Nouvelles, an agreement which includes sale of 50 % of the Monte Grighine project.

July 2008

The financing agreement concerning the Energia Verde project becomes operational.

May 2008

The financing agreement concerning the Minerva Messina project becomes operational.

 

April 2008

Greentech issues 2,074,000 new shares as payment for the acquisition of the 24 MW Cagliari II project.
 
CFO Mark Nikolaj Fromholt joins the Executive Board which is hereby enlarged from two to three members.

October 2007

Greentech completes an offering of 12,000,000 shares placed with international institutional investors and raises gross proceeds of approximately DKK 1,1m (approx. EUR 150m) – the largest share issue on the OMX Nordic Exchange Copenhagen in 2007.

September 2007

1 September Greentech founds a subsidiary company in Italy named Greentech Energy Systems Italia S.r.l.
 
Greentech launches its new website.

August 2007

The Company signs a number of development contracts with the Italian engineering firm, Ecoservice Consulting S.r.l., for the development of 98 MW of capacity in five different projects.
 
The Company acquires the Italian renewable energy project development company, PMB Engineering S.r.l., to strengthen its local expertise and access to wind energy projects in Sardinia. This acquisition has also provided the Company with access, if considered attractive upon further investigation, to potential solar energy projects.

June 2007

Completion of development and commencement of operations of the Company’s first wind energy project in Sardinia, Italy, of 21 MW.

March 2007

Acquisition by way of stock consideration of VEI 1 A/S, a wind energy project developer based in Denmark.

2006

Commencement of construction of the 99 MW Monte Grighine wind energy project in the municipalities of Villaurbana, Siamanna and Mogorella in the West of Sardinia, Italy. The project constitutes at this time Greentech’s largest development and construction project.
 
In Poland, Greentech continues to investigate the local market and completes the construction of the Company’s first wholly-owned wind energy project in Połczyno, Poland, with a nominal production capacity of 1.6 MW.
 
Martin M. Kristensen joins the Company as Executive Vice President.

2005

Entry into joint venture with the PSE Group, the state-owned utility company in Poland, to explore the further potential for wind energy projects in Poland.

2003

Acquisition of the company Wiatropol International Sp. z o.o. in Poland. This transaction provides Greentech with its entry into the Polish market.

2002

Acquisition of the company Energia Verde S.r.l. in Sardinia as part of the Company’s first move into the Italian market.

2001

Acquisition of 12.9 MW located in Milbak, Oppelstrup and Hannesborg in Denmark.

2000

Sale of all shares in the Greek subsidiary Wind Park of Rhodes.
Shut-down of all activities in Greece.
Acquisition of 2.6 MW wind energy project located in Frørup, Denmark.
Mr. Kaj Larsen takes over as Chief Executive Officer and rolls out an expansion programme focused on building up a portfolio of wind energy projects under various stages of development and across a variety of attractive markets.

1998

Cederholm and Voss Danmark changes its name to Greentech Energy Systems A/S and decides to focus on renewable energy.
 
In Poland, Greentech continues to investigate the local market and completes the construction of the Company’s first wholly-owned wind energy project in Połczyno, Poland, with a nominal production capacity of 1.6 MW.
 
Martin M. Kristensen joins the Company as Executive Vice President.

1993

The company name is changed to Cederholm and Voss Danmark, a company focusing on investment in real estate.

1991

Sydfyns Diskontobank becomes an investment company and its name is changed to Top-Sydfyn Invest A/S.

1924

Greentech is founded as a public limited company on 3 October under the name Sydfyns Diskontobank. Sydfyns Diskontobank was a local Danish savings bank.