Greece Shines: Karatzis Group Building 271 MW Solar Parks

• Karatzis Group is building three 270.8 MW solar parks in Thessaly. Cost is estimated to be EUR 190.8 million with financing from Greece's Recovery & Resilience Fund and Karatzis' cash flows. Equipment supply contracts signed and expected to go into commercial operation in 2021. PPA with Mytilineos SA and grid-connection for 330 MW of solar parks also in progress.

Greece-based Karatzis Group is building three solar parks with a combined capacity of 270.8 MW in the Thessaly region. The cost of installation is estimated to be EUR 190.8 million, of which EUR 159.6 will be financed by Greece’s Recovery & Resilience Fund, with the remaining 20% coming from Karatzis’ cash flows and investment loans. Equipment supply contracts are signed and the plants are expected to go into commercial operation in the third quarter of next year. Electricity output will be sold under a long-term PPA with Mytilineos SA. Karatzis Group is also awaiting grid-connection for 330 MW of solar parks in Thessaly.

What Is the Cost of Karatzis Group's 270.8 MW Solar Parks in Thessaly?

• The 3 solar parks will have a combined capacity of 270.8 MW.
• The installation cost is estimated to be EUR 190.8 million.
• The Recovery & Resilience Fund will cover EUR 159.6 million of the installation cost.
• Karatzis Group will cover the remaining 20% from its cash flows and investment loans.
• Equipment supply contracts have been signed.
• The solar parks are expected to start operations in the third quarter of 2021.
• Electricity output will be sold under a long-term PPA with Mytilineos SA.
• Karatzis Group awaits grid-connection for 330 MW of additional solar parks in Thessaly.