RWE and PPC continue construction of the first five photovoltaic projects with a total capacity of 210 MW through their joint venture METON Energy, in which they participate with 51% and 49% shares, respectively, with their subsidiaries RWE Renewables. and renewable PPC resources. The sale of generated energy is secured by five bilateral contracts that have already been signed. The two companies yesterday announced an investment decision to install the first five photovoltaic installations in Western Macedonia within the boundaries of the Amintaio lignite mine. The start of construction work is scheduled for this spring, and their connection to the grid by the end of the first quarter of 2024. METON Energy S.A. has signed bilateral green power purchase agreements (green PPAs) for a period of 10 to 15 years with third parties who will buy green power generated by photovoltaic projects.

The investment, with a total budget of €180 million, was secured under the loan portion of the National Recovery and Resilience Plan: €90 million and €54 million from Eurobank and Alpha Bank, with the remaining €36 million relating to the same participation. Bank financing is in the final stages of financial closure. Through a joint venture, RWE Renewables and PPC Renewables are developing large-scale photovoltaic projects with a total capacity of up to 2,000 MW in Greece. PPC Renewables has contributed nine PV projects to the consortium with a total capacity of up to 940 MW, while RWE Renewables has a portfolio of PV projects of corresponding size.

Deputy Finance Minister Theodoros Skilakakis spoke of significant investments that will help achieve the goal of accelerating the transition to energy. “We continue to actively invest in renewable energy projects on our own, as well as in cooperation with strong partners such as RWE. The development of large photovoltaic projects in Western Macedonia proves in practice our commitment to the goal of transforming the energy of both PPC and Greece, while supporting the role of Western Macedonia as the energy center of the country,” said the head of PPC. Giorgos Stasis. “As RWE, we have made a strong commitment to rapidly expanding the use of renewable energy. We are excited about the great progress of our partnership with PPC Renewables,” said RWE CEO Markus Kroeber.