Mytilineos reveals solar as well as battery projects acquisition from Egnatia

Feb 17, 2021 05:17 PM ET
  • Greek conglomerate Mytilineos has revealed its purchase of a portfolio of solar photovoltaic projects as well as battery power storage space projects from Egnatia Group for a complete cost of $67.9 m (EUR56m).

Greek corporation Mytilineos has actually announced its procurement of a portfolio of solar photovoltaic or pv projects and battery power storage projects from Egnatia Group for a complete price of $67.9 m (EUR56m).

Under the bargain, the company has gotten 20 solar projects with an incorporated ability of 1.48 GW. These are currently under development and are expected to be completed by the end of 2023.

The transaction includes a pipeline portfolio of 21 battery energy storage space projects and 4 extra battery storage projects attached to solar parks, all established by Egnatia.

Mytilineos has additionally gotten in a business power purchase arrangement for 200MW of solar energy capacity from projects had by Egnatia Group, for $40/MWh (EUR33/MWh). The agreement will take effect from 2023 for ten years along, with an alternative for a five-year expansion.

In Greece, Mytilineos currently has 300MW of solar, wind and also hydroelectric generation ability in operation, under construction, or at a ready-to-build phase. It additionally has 1.48 MW of renewable resource projects at a fully grown licensing stage, and also more 100MW of projects readied to reach the final financial investment choice phase prior to completion of this year.

In the global market, the firm has 400MW of solar projects incomplete, of which 120MW are expected to be finished and also start business operation in the 2nd quarter of the year.

It likewise has 501MW of ready-to-build solar projects, furthermore 361MW of RTB projects which are slated to start building and construction at the end of 2021 or in early 2022, and also 4GW of projects at a preliminary or intermediate licensing phase.