Apr 8, 2025
RWE and PPC have made a final investment decision on 518 MW of solar projects in Greece.
The German energy company RWE AG and the Greek power utility PPC SA have made the final investment decision to construct two solar parks in northern Greece with a total capacity of 567 MWp/518 MWac, as announced today.
The joint venture of the companies, Meton Energy SA, intends to begin construction on the Kotyli and Neo Syrakio projects this spring, aiming to complete them by 2027.
These projects, situated in the Prefecture of Central Macedonia, will enhance the existing 940 MWp/870 MWac of solar capacity that the joint venture has either operational or planned for completion by the end of 2025 in Western Macedonia, particularly within the former Amynteo opencast lignite mine area.
Katja Wuenschel, CEO of RWE Renewables Europe & Australia, stated, "With our latest investment decision, we reinforce our strong commitment to the Greek market, now totaling approximately 1.5 GW of solar capacity in deployment."
The two projects in Central Macedonia signify an investment of EUR 418 million (USD 458 million), with EUR 175 million sourced from Greece’s Recovery and Resilience Facility, while the rest is financed through EUR 169 million in commercial debt and shareholder contributions.
Meton Energy has secured 10-year power purchase agreements (PPA) for the new solar farms with PPC and RWE Supply & Trading.
Costas Papamantellos, CEO of RWE Renewables Hellas and CEO of Meton Energy SA, commented, "We are advancing our solar projects at an impressive rate. The first cluster of the Amynteo portfolio is already energized, construction on Amynteo Clusters II and III is progressing well, and we anticipate connecting all projects to the grid this year. By making this FID, we have set the stage for our next two large-scale photovoltaic projects in Greece, contributing toward the country's climate objectives."
Last week, PPC revealed its plans to invest EUR 5.75 billion over the next three to five years to transform former lignite regions in Western Macedonia into a technological and green energy hub.
The joint venture of the companies, Meton Energy SA, intends to begin construction on the Kotyli and Neo Syrakio projects this spring, aiming to complete them by 2027.
These projects, situated in the Prefecture of Central Macedonia, will enhance the existing 940 MWp/870 MWac of solar capacity that the joint venture has either operational or planned for completion by the end of 2025 in Western Macedonia, particularly within the former Amynteo opencast lignite mine area.
Katja Wuenschel, CEO of RWE Renewables Europe & Australia, stated, "With our latest investment decision, we reinforce our strong commitment to the Greek market, now totaling approximately 1.5 GW of solar capacity in deployment."
The two projects in Central Macedonia signify an investment of EUR 418 million (USD 458 million), with EUR 175 million sourced from Greece’s Recovery and Resilience Facility, while the rest is financed through EUR 169 million in commercial debt and shareholder contributions.
Meton Energy has secured 10-year power purchase agreements (PPA) for the new solar farms with PPC and RWE Supply & Trading.
Costas Papamantellos, CEO of RWE Renewables Hellas and CEO of Meton Energy SA, commented, "We are advancing our solar projects at an impressive rate. The first cluster of the Amynteo portfolio is already energized, construction on Amynteo Clusters II and III is progressing well, and we anticipate connecting all projects to the grid this year. By making this FID, we have set the stage for our next two large-scale photovoltaic projects in Greece, contributing toward the country's climate objectives."
Last week, PPC revealed its plans to invest EUR 5.75 billion over the next three to five years to transform former lignite regions in Western Macedonia into a technological and green energy hub.