5 solar parks with a total peak power of about 210 MWp will be built in Greece with money from the Recovery Plan of our southern neighbor. The project is a joint venture between RWE Renewables (51%) and local PPC Renewables (49%), and the investment will be financed with €90 million from the EU through NextGenerationEU, a €54 million loan from Eurobank and Alpha Bank and a €36 million equity, reports ESG News.
The solar installations will be located in Western Macedonia, on the territory of the now defunct Aminteo open-pit mine. The site is close to the border with North Macedonia. Construction work is expected to begin in the spring and be completed by the end of the first quarter of next year.
There are already contracts with third parties for the purchase of energy for periods between 1o and 15 years. The two companies have plans for other projects in the renewable energy sector.
After the completion of the project, the joint solar business of RWE and PPC in Greece will operate installations that generate up to 2,000 MWp. For comparison, according to data from AE-Solar, Bulgaria’s goals are that by 2024, all players on our solar market will have a total installed capacity of 2500 MWp.
“The green transition is a key pillar of the National Recovery and Resilience Plan Greece 2.0, which is currently being implemented. In fact, in these difficult times, when the world is facing unprecedented challenges, more than 11 billion euros are already in the public treasury through this approach to development,” commented Deputy Finance Minister Todoros Skilakakis.
