The capacity will come from three photovoltaic (PV) parks, to be installed in addition to the five schemes that will add 210 MWp of capacity in the same region, PPC said on Tuesday.
The trio of projects, bundled in the Amynteo Cluster II, will be executed by Meton Energy SA, a joint venture between RWE Renewables Europe & Australia and PPC Renewables. The partners intend to launch construction in the autumn and bring the plants online by the end of next year.
The PV farms will be installed within the former Amynteo open pit lignite mine where Meton is currently building five photovoltaic (PV) parks known as the Amynteo Cluster I. PPC will buy the three plants’ entire output under a 15-year power purchase agreement (PPA).
The Amynteo Cluster II will require an investment of EUR 196 million (USD 215.1m), of which EUR 98 million will be sourced from Greece’s Recovery and Resilience Facility (RRF). Some 59 million for the project have been secured from commercial debt financing from Alpha Bank SA, Eurobank SA and National Bank of Greece SA, while EUR 39 million will come from shareholders’ equity.
At present, Meton is developing around 2 GW of large-scale solar projects in Greece, including the schemes under construction. PPC and RWE have contributed almost an equal volume of projects to the JV’s pipeline.
