Apr 9, 2025
Meton Energy has declared the Final Investment Decision for two solar power plants located in Macedonia, Greece.
Meton Energy, a partnership between RWE Renewables Europe & Australia and PPC Renewables, has declared the final investment decision for two major photovoltaic projects in Central Macedonia, Greece.
The solar installations, named Kotyli and Neo Syrakio, will collectively have a peak capacity of 567 megawatts (MWp) and are slated to begin construction in spring 2025, with operations expected to start in 2027.
The initiatives will produce enough yearly energy to power 140,000 homes. Meton Energy has established ten-year bilateral power purchase agreements with PPC and RWE Supply & Trading to acquire the green electricity generated.
The €418 million investment includes €175 million from the European Union's NextGenerationEU funds via the recovery and resilience facility plan referred to as Greece 2.0, with the remaining amount financed by €169 million in commercial loans from Greek banks and contributions from shareholders.
Established in 2021, the joint venture comprises a 51% stake from RWE Renewables Europe & Australia and a 49% stake from PPC Renewables.
The partnership has previously activated five solar farms with a total capacity of 210 MWp and has finished building a sixth project.
Three more solar farms, totaling 625 MWp, are expected to be operational by the end of 2025.
These nine projects in Western Macedonia will have a total capacity of 940 MWp.
Katja Wünschel, CEO of RWE Renewables Europe & Australia, commented: “With our latest investment decision, we reaffirm our strong commitment to the Greek market, with approximately 1.5 gigawatts of solar capacity now in development. This significant accomplishment results from the exceptional teamwork between the RWE and PPC teams. Together, we are expediting the energy transition in Greece.”
Konstantinos Mavros, CEO of PPC Renewables, noted: “In Central Macedonia, we are building a new and sustainable future. Our collaboration with RWE has shown the remarkable outcomes we can achieve when we unite our efforts. Both our current projects in the old lignite mines in Amyntaio and the new investment in Central Macedonia signify the creation of more jobs during both construction and operation stages, promising sustainable growth and a brighter future for Greece.”
Costas Papamantellos, CEO of RWE Renewables Hellas and Meton Energy, added: “We are advancing our solar projects at a remarkable pace. The initial cluster of the Amynteo portfolio is already operational, construction on Amynteo Clusters II and III is well underway, and we aim to connect all projects to the grid this year. By making this final investment decision, we have set the foundation for our next two large-scale photovoltaic projects in Greece, which will help meet the country’s climate objectives.
The solar installations, named Kotyli and Neo Syrakio, will collectively have a peak capacity of 567 megawatts (MWp) and are slated to begin construction in spring 2025, with operations expected to start in 2027.
The initiatives will produce enough yearly energy to power 140,000 homes. Meton Energy has established ten-year bilateral power purchase agreements with PPC and RWE Supply & Trading to acquire the green electricity generated.
The €418 million investment includes €175 million from the European Union's NextGenerationEU funds via the recovery and resilience facility plan referred to as Greece 2.0, with the remaining amount financed by €169 million in commercial loans from Greek banks and contributions from shareholders.
Established in 2021, the joint venture comprises a 51% stake from RWE Renewables Europe & Australia and a 49% stake from PPC Renewables.
The partnership has previously activated five solar farms with a total capacity of 210 MWp and has finished building a sixth project.
Three more solar farms, totaling 625 MWp, are expected to be operational by the end of 2025.
These nine projects in Western Macedonia will have a total capacity of 940 MWp.
Katja Wünschel, CEO of RWE Renewables Europe & Australia, commented: “With our latest investment decision, we reaffirm our strong commitment to the Greek market, with approximately 1.5 gigawatts of solar capacity now in development. This significant accomplishment results from the exceptional teamwork between the RWE and PPC teams. Together, we are expediting the energy transition in Greece.”
Konstantinos Mavros, CEO of PPC Renewables, noted: “In Central Macedonia, we are building a new and sustainable future. Our collaboration with RWE has shown the remarkable outcomes we can achieve when we unite our efforts. Both our current projects in the old lignite mines in Amyntaio and the new investment in Central Macedonia signify the creation of more jobs during both construction and operation stages, promising sustainable growth and a brighter future for Greece.”
Costas Papamantellos, CEO of RWE Renewables Hellas and Meton Energy, added: “We are advancing our solar projects at a remarkable pace. The initial cluster of the Amynteo portfolio is already operational, construction on Amynteo Clusters II and III is well underway, and we aim to connect all projects to the grid this year. By making this final investment decision, we have set the foundation for our next two large-scale photovoltaic projects in Greece, which will help meet the country’s climate objectives.