October 16, 2025
by in News

Principia builds CfD-backed battery storage facility in Greece

Principia built its first battery system in just six months. The Themelio facility in Chalkidiki in northern Greece, with 49 MW in operating power, will help reduce curtailments from wind and solar power plants and contribute to grid stability.

One of the first standalone battery energy storage systems (BESS) in Greece is coming online in December. Principia said it built the Themelio facility in the Vouno area of Chalkidiki peninsula, aligned with the national plan for grid stability and electrification.

The BESS has 49 MW in capability and a two-hour duration, translating to a guaranteed capacity of 98 MWh, while the nominal capacity is 127 MWh.

Principia is an equally-owned joint venture of Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia. The company said the name Themelio, foundation, symbolizes the beginning of its new era, diversifying beyond renewables.

The construction of the battery system near the town of Polygyros in the Central Macedonia region began in April. It will help reduce curtailments from wind and solar plants, especially in grid-congested areas, by absorbing excess electricity and injecting it back into the system when needed, Principia explained.

The battery energy storage system features a guaranteed capacity of 98 MWh

BESS also enhances system stability by providing power during peak demand and ensuring smooth grid operation. In addition, the unit promotes energy decentralization, as it is located close to renewable energy production sites, contributing to the creation of a more flexible and intelligent energy environment, the joint venture pointed out.

Eurobank financed half of the EUR 28 million project.

The new system in northern Greece consists of 26 Sungrow battery containers, each with a maximum capacity of 5 MWh and equipped with advanced CALB 314 Ah cells. Themelio includes 13 Sungrow power stations, containing 5,140 kW transformers and 33 kV medium-voltage switchgear, as well as two medium-voltage terminal substations.

The project won government support last year, in the form of a contract for difference (CfD), in Greece’s second auction for standalone energy storage systems. Almost all other beneficiaries of the program are struggling with strict deadlines.

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August 1, 2025
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EDP Renewables sells wind farms in Greece to Enel-Macquarie joint venture

Principia agreed to acquire all four EDPR’s wind power plants in Greece. The joint venture of Enel and Macquarie Asset Management’s funds is nearing 800 MW in renewable energy and battery storage capacity in the country.

Principia, owned equally by Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia, is strengthening its presence in Greece with a purchase of four wind farms. EDP Renewables is selling the facilities to the firm after reportedly deciding to exit the country.

The joint venture, which expects to close the transaction later this year, revealed that the estimated enterprise value exceeds EUR 200 million. The measure can include debt and some other items. The takeover is adding 149.6 MW to its operational capacity, which would reach 727 MW, from 70 power plants. Wind power accounts for 517.8 MW.

With the purchase, Principia will operate a total of 517.8 MW in wind power capacity.

“The acquisition of this portfolio strategically strengthens Principia’s presence in the Greek renewable energy market, in a constantly evolving environment, and reaffirms a role of leadership in the country’s energy transition. With this investment, we further reinforce our position in the Greek clean energy market and take another step toward delivering on our ambitious plan for growth, diversification, and reliable clean energy generation across Greece,” Principia’s Chief Executive Officer Aristotelis Chantavas said.

All four wind farms operate within CfD scheme

All four wind farms are operating under 20-year contracts for difference (CfDs). Livadi (45 MW) and Erimia (35 MW) are in Malesina, Phthiotis. Wind power plants Xironomi (36 MW) and Chalcodonio (33.6 MW) were commissioned this year. They are located in Boeotia, Central Greece, and Magnesia, Thessaly, respectively.

Newmoney learned, without revealing its source, that Terna Energy, ENI Plenitude, HELLENiQ Energy and some investment funds also participated in the process, interested in the portfolio. The acquisition will lift Principia by one notch to become third among the largest wind farm operators in the country, the article adds.

Principia aims to complete construction of 49 MW battery system by year-end

Principia has another 230 MW under construction or in the ready-to-build stage, and 5.6 GW more in various stages of development.

It is building a battery energy storage system (BESS) of 49 MW in Polygyros, in the Halkidiki peninsula. It won government support at Greece’s second energy storage auction.

The Paleolivada facility is due to come online before the end of the year. Construction began in March. It will have 98 MWh in guaranteed capacity, versus 127 MWh installed.

The firm has a mature project for a hybrid power plant of 111 MW and 70 MW of solar power capacity. The site is in Atherinolakos, in Sitia in the south of Crete.

Principia inaugurated a photovoltaic cluster of 95 MW in May. The Perasma facility, near the villages of Mavrodendri and Sidera, is set to generate 126.8 MW per year. It comprises seven units and 170,000 bifacial panels.

Macquarie Asset Management agreed to buy 50% of Enel Green Power Hellas in 2023.

Of note, EDP Renewables (EDPR) is headquartered in Spain, but traded on the Euronext Lisbon stock exchange. It is a subsidiary of EDP.

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July 31, 2025
by in News

With 152 MW of wind power installed in H1 2025, Greece continues low trajectory

Just 152.2 MW of wind farms were installed in Greece in the first half of 2025, thus continuing the low trajectory of recent years.

According to the Hellenic Wind Energy Association (HWEA or ELETAEN), total wind capacity in the country reached 5,507 MW at the end of June. In the first six months of the year, 37 new wind turbines were installed in Greece, with a capacity of 152.2 MW, representing a total investment of EUR 180 million.

New capacity doubled compared to the same period of 2024, but is not enough to support a more balanced renewable mix, HWEA said. In comparison, photovoltaics consistently add similar capacity in just one month on average.

The association also mentioned that currently there is 1 GW of wind projects under construction, or contracted. The majority are expected to launch operations within the next 18 months. There is another 300 MW selected through auctions for which letters of guarantee were submitted, and it is expected to reach completion. As a result, total capacity is projected to reach 6.5 GW within the period.

HWEA: Red tape is delaying 846 MW of wind projects

HWEA stressed that due to red tape, the construction of over half of the wind power capacity awarded at renewable energy auctions in the period 2018-2022 has been delayed. Namely, 1.592 MW was selected, but just 746 MW is operational today.

“If they had been completed on time, these wind projects, with a total capacity of 846 MW, would have provided more cheap energy and permanent relief to Greek consumers and the national economy,” HWEA pointed out.

Terna Energy and Vestas lead the pack

When it comes to wind energy’s geographical dispersion, Central Greece (Sterea Ellada) leads with 2.427 MW, followed by 709 MW in the Peloponnese and 535 MW in Eastern Thrace.

The top 5 market players are Terna Energy (1,034 MW – 18.8%), owned by Masdar, Motor Oil Hellas’s subsidiary MORE (774 MW – 14.1%), Iberdrola Rokas (409 MW – 7.4%), Principia (368 MW – 6.7%) and PPC Renewables (308 MW – 5.6%), which operates within state-controlled Public Power Corp. or PPC).

The most prominent wind turbine suppliers are Vestas, with 45.1% of the market, followed by Enercon, with 25.7%, and Siemens Gamesa, with 16.4%. They are trailed by Nordex, with 7.6%, GE Renewable Energy (now GE Vernova), with 3.7%, and EWT, Goldwind and Leitwind.

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July 25, 2025
by in News

Faria Renewables secures financing for 49.9 MW battery project in Greece

Faria Renewables has signed a loan agreement with Attica Bank for the construction of a battery energy storage system (BESS). The project is worth EUR 28 million. In addition, Cero Generation passed a milestone toward a 250 MW battery storage investment.

A BESS project selected last year in Greece’s second battery storage auction is now a step closer to materialization, Faria Renewables revealed. The company signed a loan deal with Attica Bank for the construction of the system. It would have 49.9 MW in capability and a capacity of 134.2 MWh.

The investment is worth EUR 28 million, the company added. Its first BESS unit, for which it earlier signed a contract with Huawei, would be connected to a 150/20 kV substation, currently under construction. Construction is expected to be completed before the end of September, the update adds.

BESS project benefitting from EU funds

The project is being implemented under the National Recovery and Resilience Plan Greece 2.0, with funding from the European Union – the NextGenerationEU and its Recovery and Resilience Facility (RRF) segment.

“Our collaboration with Attica Bank for the implementation of this significant energy storage project marks another crucial step in delivering sustainable energy solutions that support the country’s energy transition goals. We share a common vision to contribute to a greener society by designing and carrying out energy solutions that combine expertise, sustainability, and innovation,” Faria Renewables’ Chair and Chief Executive Officer Thalia Valkouma stated.

The renewables and energy storage developer has a portfolio in Greece exceeding 3 GW. It said it is exploring opportunities in new markets in Europe.

One of largest energy storage investments in Greece

According to Attica Bank’s Chief of Asset and Specialized Financing Christos Iliopoulos, the new agreement is for one of the largest investments in the energy storage sector in Greece.

“Attica Bank remains strategically committed to supporting the green transition and energy security of the country by financing projects that enhance the transformation and resilience of the energy system. Our partnership with Faria Renewables for the construction of a storage project is fully aligned with this philosophy,” he said.

The investment will help the integration of renewable sources into the national grid and enhance system flexibility, the announcement reads.

Greece has held a series of three auctions for subsidizing standalone BESS to get the market segment rolling, on the path toward its 2030 target of 4.7 GW.

Cero Generation makes progress toward 250 MW battery storage investment

In other news, Cero Generation Holdings, a subsidiary of Macquarie Asset Management, won an approval from Greece’s Ministry of the Environment and Energy for five BESS stations. Each would have 50 MW in operating power and 153 MWh in effective capacity (or 170 MWh nominally).

Project firms Energy Ventures 6 and Energy Ventures 10, in which Cero Generation holds 85%, received environmental terms (AEPO) for the proposed investment in Pelinnaioi, in the municipality of Farkadona in Trikala, Thessaly.

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