- Investment decisions made for construction of two photovoltaic projects with a total capacity of 567 MWp (518 MWac)
- Start of construction expected in spring 2025; commissioning in 2027
- Total investment of €418 million planned, out of which €175 million will be made available by RRF sources and €169 million as commercial debt provided by Greek banks
- Power Purchase Agreements signed with PPC and RWE Supply & Trading
- Construction and commissioning of the previously announced 940 MWp (870 MWac) photovoltaic projects progressing well. 210 MWp already energized
Two leading energy groups RWE and PPC continue to forge ahead with Greece’s energy transition through their joint venture company Meton Energy. The company has taken the final investment decision for the construction of two large-scale photovoltaic (PV) projects in the Prefecture of Central Macedonia in Northern Greece. The solar farms Kotyli and Neo Syrakio will have a total capacity of 567 MWp (518 MWac). Construction is planned to start this spring, with commissioning expected in 2027. The estimated annual energy generation of the project is expected to be sufficient to meet the energy needs of more than 140,000 households.
The project company Meton Energy S.A. has signed 10-year bilateral Power Purchase Agreements (PPA) with PPC and RWE Supply & Trading, which will purchase the green electricity produced by the new solar farms. For the €418 million investment, €175 million of European Union – NextGenerationEU funds have been secured via the Recovery and Resilience Facility (RRF) plan “Greece 2.0” and the remaining amount is being financed through a €169 million commercial debt financing, as well as shareholders’ contribution.
Together, RWE Renewables Europe & Australia (51%) and PPC Renewables (49%) have already energised 5 solar farms (210 MWp in total) and finished construction of a 6th project (315 MWp completed in total) with energization expected in due course. Further 3 solar farms (625 MWp) are planned to be operational by the end of 2025. These nine solar projects have a total capacity of 940 MWp (870 MWac) and are located in Western Macedonia in Northern Greece, within the boundaries of the former Amynteo opencast lignite mine.
Katja Wünschel, CEO RWE Renewables Europe & Australia: “With our latest investment decision, we underpin once again our strong commitment to the Greek market with now roughly 1.5 gigawatts of solar capacity in deployment. This great achievement is the result of the excellent cooperation between the teams involved at RWE and PPC. Together we are accelerating the energy transition in Greece.”
Konstantinos Mavros, CEO of PPC Renewables: 'In Central Macedonia we are creating a new and sustainable future. Our cooperation with RWE has proven to be an excellent demonstration of what we can do when we work together. Both our current projects in the old lignite mines in Amyntaio and the new investment in Central Macedonia, mean more new jobs both in construction and operation phases, and a promise for sustainable growth and a brighter future for Greece.'
Costas Papamantellos, CEO of RWE Renewables Hellas and CEO of Meton Energy S.A.: '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.'
Source: RWE
