RWE, a German energy utility company, and PPC Renewables have collaborated to build more than 200 MW of solar capacity in Greece, speeding the country’s energy transition. RWE and PPC have made the final investment decision on five solar photovoltaic (PV) projects through their joint venture company Meton Energy. The five solar PV projects, totaling 210 MWp (175 MWac), will be built in the Western Macedonia region of northern Greece.
Reportedly, the projects are anticipated to be operational by the second quarter of 2024, with construction work at the locations set to start in the upcoming months. The solar projects will require a total investment of €180 million, €90 million of which will be supported by the European Union’s NextGenerationEU funding under the Recovery and Resilience Facility (RRF) plan ‘Greece 2.0’. Eurobank and Alpha Bank will also provide them with €54 million in commercial debt financing, as well as €36 million in shareholder equity. The financing is subject to financial close.
Earlier this month, Siemens Gamesa was chosen by German energy giant RWE as the preferred wind turbine provider for its Thor offshore wind project in Denmark. For the 1 GW offshore project, Siemens Gamesa would deliver and maintain 72 of its SG 14-236 DD offshore wind turbines.