Akuo Energy Sets Up Agrisolar Portfolio in Greece With Four PV Comprising 1 MW Each

• French renewable energy firm Akuo Energy has established its first solar park in Greece, with four PV comprising 1 MW each. This new photovoltaic plant is a result of the MoU signed between the regional authority and local agricultural firms, and is set to give an impetus to the addition of renewable energy sources.

What happened?

French renewable energy firm Akuo Energy has established its first solar park in Greece, with four PV comprising 1 MW each. The yearly output of the project will help meet the needs of 350 households, the firm says. Back in October 2021, the firm had set up the 1 MW Chalki island project. The electricity that the solar power generates will be sold off in the energy market. Akuo is also eyeing in the coming time the establishment of PV plants with a cumulative capacity of 500 MW. The new photovoltaic plant is a result of the MoU signed between the regional authority and local agricultural firms, that will together set up floating solar power plant projects and solar PV plants on irrigation canals. (Source: Enerdata)

Why does it matter?

This move by Akuo Energy is significant as it is helping to increase the use of renewable energy sources in Greece. The project will generate enough electricity to meet the needs of 350 households and will also be sold off in the energy market. Furthermore, the firm is planning to set up PV plants with a cumulative capacity of 500 MW, which will further benefit the region. In addition, the firm has also partnered with IEL OIE Balkan Renewable Energy’s 85 MW Bašaid wind farm project in proximity to Kikinda in Serbia and has made an acquisition of Bulgaria’s five hydropower plants that have a cumulative capacity worth 15.5 MW (as of 2021).

What's next?

The Chairman and Co-Founder of Akuo Energy Eric Scotto is encouraging Southeastern European countries to give a push to private power purchase agreements or PPAs, as these are an important solution to energy crisis. Last year, US-based solar module manufacturer, First Solar announced a new renewable energy Global Supply Agreement with Akuo Energy, through which First Solar will supply 500 MW of thin film PV solar module to Akuo Energy. This is an encouraging sign for the renewable energy sector, and it will be interesting to see how Akuo Energy and other firms continue to develop sustainable energy sources in the coming years.