RWE, PPC Launch 259MW Greek Solar Trio
- RWE and PPC joint venture Meton Energy have made the final investment decision to build 3 solar projects totalling 259MW in northern Greece. Construction set to start in autumn 2021, with projects due to be operational by 2024. €196m investment provided by EU funds, finance from Alpha Bank, Eurobank & NBG, plus €39m in equity. Meton Energy & RWE developing solar farms with capacity up to 2GW in Greece.
RWE and PPC joint venture Meton Energy has made the final investment decision for the construction of three solar projects totalling 259MW in northern Greece. The projects are part of the Amynteo Cluster 2 and will be built on the site of the former Amynteo opencast lignite mine. Construction work is scheduled to begin in autumn of this year and all three sites are set to start operations by the end of 2024. The joint venture between RWE and PPC Renewables is developing solar farms with a total capacity of up to 2GW in Greece. To fund the projects, a €196m investment will be provided by EU funds, commercial debt financing from Alpha Bank, Eurobank and the National Bank of Greece, plus €39m in equity. PPC Renewables has contributed nine solar projects with a total capacity of up to 870MW to Meton Energy and RWE, while long-term financing agreements and electricity supply contracts have been secured. The projects will provide green electricity and aim to help Greece reach its renewable energy goals.
What Is the Final Investment for RWE and PPC's Greek Solar Project?
- The total investment for the Amynteo Cluster 2 project is €235m.
- The investment consists of €196m in EU funds, commercial debt financing from Alpha Bank, Eurobank and the National Bank of Greece, and €39m in equity.
- PPC Renewables has contributed nine solar projects with a total capacity of up to 870MW to Meton Energy and RWE.
- Long-term financing agreements and electricity supply contracts have been secured for the projects.
- The project is part of a joint venture between RWE and PPC Renewables to develop solar farms with a total capacity of up to 2GW in Greece.
- Construction work is scheduled to begin in autumn 2020 and the projects are set to start operations by the end of 2024.
