Germany’s RWE and Greece’s PPC to build 280 MW photovoltaic plants in Western Macedonia

Germany’s RWE and Greece’s PPC, leading energy groups in Europe, are jointly driving the Greek energy transition with their venture, Meton Energy SA. They are set to construct three photovoltaic projects in Western Macedonia, Greece, located within the defunct Aminteo open pit mine, boasting a combined capacity of around 280 MWp (259 MWac). Construction is scheduled to begin in the fall, aiming for full operation by the end of 2024. Alongside this initiative, five other large-scale solar projects are already underway in the same region, forming Amynteo Cluster I, with a total capacity of 210 MWp (175 MWac). PPC will procure the electricity from these projects through long-term contracts.

The investment in Amynteo Cluster II amounts to EUR 196 million, with EUR 98 million secured from the European Union’s NextGenerationEU funding program through the Greece 2.0 plan under the Recovery and Resilience Facility. The remaining funds will be provided by three Greek banks—Alpha Bank, Eurobank, and National Bank of Greece, contributing EUR 59 million in debt (co-financing), along with EUR 39 million in equity capital. This substantial financial support showcases the dedication to accelerate the adoption of renewable energy sources in Greece. Repurposing the Aminteo open pit mine for photovoltaic projects exemplifies a strong commitment to a greener future and signifies a significant step towards achieving sustainable energy development in the region. CEO of PPC Renewables, Konstantinos Mavros, highlighted the importance of the project, aiming to complete the transformation by 2024, demonstrating their steadfast determination to expedite the shift to renewable energy.

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