RWE and Greek developer PPC have reached a final investment decision to build 175MW (210MW peak) of solar capacity in Greece.
The companies’ joint venture will build five projects in Western Macedonia, with construction scheduled to begin this spring, followed by commissioning in early 2024.
The 200MW of capacity will require a total investment of €180m, with €90m co-financed by EU funds.
The projects have long-term power purchase agreements signed with various customers, with terms ranging between 10 and 15 years.
The solar parks are to be built in the northern Greek region of Western Macedonia on the site of the former Amyntaio lignite mine.
RWE holds a 51% share in the joint venture company, Meton Energy, with PPC Renewables holding the remaining 49%.
Georgios Stassis, Chairman and CEO of PPC, said: “Clean energy is at the heart of PPC’s strategic planning.
“These include the development of renewable energy projects, storage technologies and green hydrogen.
“I am convinced that renewable energies in combination with storage technologies will form the backbone of the electricity system worldwide in the next decade.
“We continue to invest in renewable energy projects – alone and in cooperation with strong partners such as RWE. The development of the major solar projects in Western Macedonia shows our commitment to the energy transition.
“We are also strengthening Western Macedonia’s role as the country’s energy centre.”
Through Meton Energy, RWE Renewables and PPC Renewables are developing solar projects with a total capacity of up to 2GW (peak) in Greece.
PPC Renewables has contributed nine solar projects with a total capacity of up to 870MW (940MWp) to the joint venture and RWE Renewables has a solar development pipeline in Greece of a similar size.