Lightsource BP has won 140MWp in the latest Greek renewables auction, representing over 40% of the total awarded capacity in the round.
The successful projects are part of a larger 640MWp portfolio that will be developed with local firm Kiefer TEK, enabling Lightsource BP to launch in the market.
The company expects more than 200MWp to come online in the next 24 months, including the 140MWp won in the auction.
The company will initially invest around €160 million locally including the procurement services and creation of over 300 construction jobs. The co-development agreement includes Kiefer TEK acting as the engineering, procurement and construction contractor.
Average prices awarded to the company’s projects was €38.50 per MWh.
Lightsource said the win demonstrates the company’s ability to secure quality relationships that deliver results, creating a secure foundation for the company to continue its local growth.
More than 1GW of wind and solar projects bid into the latest tender, awarding contracts for up to 350MW with solar demonstrating prices that undercut coal and natural gas costs.
Lightsource global expansion boss Vlasios Souflis said: “This is a landmark moment for our large-scale solar development team in Greece, which has been working on local opportunities for less than a year.
“The auction process is enabling the country to accelerate the decarbonization of its energy sector, while providing an attractive market for global energy players. We have entered the market in partnership with local experts Kiefer TEK who have been instrumental in helping us establish our presence.
“We will now get to work on executing this pipeline and continue our efforts in seeking more high-quality opportunities to expand our footprint in the local market. Deals like this help deliver local investment, jobs and clean electricity to fuel Greece’s economic recovery and help lay the foundations for its ongoing energy transition.”