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German energy group RWE AG (ETR:RWE) and Greek power utility PPC SA (ATH:PPC) have taken the final investment decision to build two solar parks in northern Greece with a combined capacity of 567 MWp/518 MWac, the two announced today. The companies’ joint venture, Meton Energy SA, plans to start construction on the Kotyli and Neo Syrakio projects this spring and to commission them in 2027. These projects, located in the Prefecture of Central Macedonia, will add to the 940 MWp/870 MWac of solar capacity already in operation or planned for completion by the joint venture by the end of 2025 in Western Macedonia, within the boundaries of the former Amynteo opencast lignite mine. “With our latest investment decision, we underpin once again our strong commitment to the Greek market with now roughly 1.5 GW of solar capacity in deployment, said Katja Wuenschel, CEO RWE Renewables Europe & Australia. The two projects in Central Macedonia represent a EUR-418-million (USD 458m) investment, with EUR 175 million coming from Greece’s Recovery and Resilience Facility and the remainder covered by EUR 169 million in commercial debt financing and contributions from shareholders. Meton Energy has signed 10-year power purchase agreements (PPA) for the new solar farms with PPC and RWE Supply & Trading. “We are delivering our solar projects at an impressive pace. The first cluster of the Amynteo portfolio is already energised, construction works for Amynteo Clusters II and III are at an advanced stage and we are looking forward to connecting all projects to the grid this year. By taking this FID we have laid the ground for our next two large-scale photovoltaic projects in Greece, which will contribute to reach the country’s climate goals,” commented Costas Papamantellos, CEO of RWE Renewables Hellas and CEO of Meton Energy SA. PPC last week outlined plans to invest EUR 5.75 billion in the next three to five years to convert former lignite areas in Western Macedonia into a technological and green energy hub. (EUR 1 = USD 1.097) |
