April 10, 2025

by AEA in News

RWE-PPC partnership starting to build 567 MW of PV capacity

Meton Energy has taken the final investment decision for two photovoltaic projects north of Thessaloniki. Through their joint venture, Germany-based RWE and Greek government-controlled utility PPC are about to start construction of 567 MW in total peak capacity.

Most of the 2 GW solar power portfolio that the top tier German-Greek partnership is developing is now materializing. RWE, holding 51% in the Meton Energy joint venture, and Public Power Corp. (PPC), the other co-owner, agreed to move to the construction phase in an investment worth EUR 418 million.

The endeavor consists of two photovoltaic projects in the Central Macedonia region in north Greece. Solar farms Kotyli and Neo Syrakio would have a total peak capacity of 567 MW, translating to 518 MW in grid connection terms.

Commissioning expected in 2027

Construction is planned to start this spring, with commissioning expected in 2027. The two sites are in the Kilkis regional unit north of Thessaloniki. Estimated annual output is equivalent to the electricity demand of more than 140,000 households.

PPC, or DEI in Greek, formally entered its largest joint venture in 2021 with German energy giant RWE. It took the domestic company less than five years to swing from deep losses to a nearly completed coal phaseout and a regional expansion at full speed. It is building some of the largest renewables and gas facilities in Europe. Moreover, PPC is transforming the two areas in Greece that rely on the solid fossil fuel and lignite-fired power plants.

RWE, PPC won EUR 175 million in EU grants for Kotyli, Neo Syrakio

The partners manage their stakes through PPC Renewables and the RWE Renewables Europe and Australia branch.

As they reached their latest final investment decision, the companies pointed out that they secured EUR 175 million in grants for the twin projects from the European Union’s Recovery and Resilience Facility (RRF) and the National Recovery and Resilience Plan (NRRP) Greece 2.0.

They are financing the rest from own funds and with EUR 169 million from commercial banks, the announcement reads. Meton Energy has signed 10-year bilateral power purchase agreements (PPAs) with PPC and RWE Supply and Trading.

“With our latest investment decision, we underpin once again our strong commitment to the Greek market with now roughly 1.5 GW of solar capacity in deployment. This great achievement is the result of the excellent cooperation between the teams involved at RWE and PPC. Together we are accelerating the energy transition in Greece,” said Chief Executive Officer of RWE Renewables Europe and Australia Katja Wünschel.

Amynteo PV clusters coming online by year end

The two partners have so far energized five solar farms with 210 in total peak capacity. The construction of another PV plant with a peak of 105 MW is complete. Three more, of 625 MW in combined peak capacity, are planned to become operational by the end of 2025.

The nine units in three clusters have 940 MW altogether or 870 MW on the transmission grid, as alternating current. They are in the former Amynteo open cast lignite mine in Western Macedonia in the country’s north.

“We are delivering our solar projects at an impressive pace. The first cluster of the Amynteo portfolio is already energised, construction works for Amynteo clusters 2 and 3 are at an advanced stage and we are looking forward to connecting all projects to the grid this year,” said Costas Papamantellos, CEO of RWE Renewables Hellas and Meton Energy.

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April 6, 2025

by AEA in News

PPC begins construction of 165 MW solar farm with BESS in Bulgaria

PPC Group is accelerating its expansion in the Balkans by laying the foundation stone for its Colosseum solar power project in Bulgaria. The facility will have 165 MW in peak capacity and include a battery energy storage system (BESS), the Greek state-controlled utility revealed. The company’s investment plan includes Italy, where it recently commissioned the first two solar parks.

Public Power Corp. – PPC Group said it commenced the construction of a photovoltaic plant in Stara Zagora in central Bulgaria. The project involves 260,000 bifacial solar panels with an expected annual power generation of more than 265 GWh. It is one of the biggest investments abroad for Greece’s government-controlled utility, which is expanding in Southeastern Europe and beyond.

The Colosseum solar park will have 165 MW in peak capacity and include a BESS facility of 25 MW in operating power and a capacity of 55 MWh. The liquid-cooled lithium iron phosphate (LFP) batteries will support the operation of the photovoltaic plant and contribute to the stability of the electricity system, the company added.

A 33/110 kV substation will be built on the site, the announcement reads. The solar power plant’s estimated output is equivalent to the electricity needs of more than 45,000 Bulgarian households.

PPC has 550 MW in project pipeline in Bulgaria

PPC Group runs an 18 MW wind farm called Garda in the country and another 550 MW in its renewables project pipeline. The company’s overall online green energy capacity is 5.5 GW.

According to its three-year strategic plan, by 2027, PPC Group will develop another 6.3 GW of renewables in Greece and the region. It revealed that more than 60% is under construction or ready for construction.

First PV units from strategic deal with Metlen in Italy came online in December

In December, PPC Group said it launched the operation of photovoltaic plants Carcarello and Luxenia, its first two facilities in Italy. They have 20 MW and 12 MW, respectively, in peak capacity. It translates to over 60 GWh of electricity per year in total from the two solar power units in central Italy.

The production can meet the demand of almost 15,000 households. The contractor for Carcarello and Luxenia was Metlen, formerly known as Mytilineos. The projects are part of a region-wide strategic agreement for photovoltaics, for 2 GW. Another 160 MW of PV capacity is under construction in the country.

Greek state-controlled power utility is largest renewables producer in Romania

PPC Group is the largest renewable energy producer in Romania, operating 25 wind, photovoltaic and hydroelectric facilities as well as battery storage units.

Its subsidiary Reţele Electrice România invested EUR 240 million last year in the expansion and modernization of its electricity distribution network. The firm plans to increase the number of smart meters in the three regions that it serves to two million by the end of 2025.

Gas-hydrogen CHP plant in Kardia to be completed by end-2026

As for its home market, the Greek utility said in January that it started the construction of a high-efficiency combined heat and power (CHP) plant. The future gas facility of 17 units is within the site of the former Kardia coal-fired power plant in the Western Macedonia province.

The company expects to complete the EUR 80 million cogeneration investment by the end of next year. According to earlier updates, the facility will have 105.3 MW in power capacity and 66.5 MW for thermal energy.

The project envisages the use of a mixture of fossil gas and hydrogen. The group is building another gas plant in Alexandroupolis.

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April 3, 2025

by AEA in News

Greek companies expand to Bulgaria with solar power investments

Greece’s government-controlled power utility PPC and Masdar’s subsidiary Terna Energy are separately building two photovoltaic plants in Bulgaria, worth an estimated EUR 190 million in total.

The biggest two renewable energy companies in Greece have taken over one major project each in neighboring Bulgaria, where domestic investors dominated the photovoltaics market until recently. Soon after government-controlled Public Power Corp. (PPC) said it began building a 165 MW solar power plant with batteries, Capital reported that Terna Energy plans to complete a 130 MW project by the end of next year.

The segment appears saturated, given the lack of energy storage capacities in Bulgaria to balance high PV output at times of abundant sunshine. Permits that the Sustainable Energy Development Agency (SEDA) issued show 4 GW in overall installed solar power capacity. Nevertheless, Executive Director of Electricity System Operator (ESO) Angelin Tsachev estimated there is as much as 5 GW, the media outlet noted.

In its annual statistics update, the International Renewable Energy Agency (IRENA) said Bulgaria hosted 3.9 GW of PV capacity at the end of 2024.

Terna Energy bought out initial developer one year ago

Terna Energy became a subsidiary of Abu Dhabi Future Energy Co. (Masdar) last year. The Greek company entered the ownership of the project firm Bio PD Solar Energy for the 130 MW facility three years ago with a 25% stake.

In mid-2024, Terna Energy Overseas Ltd., registered in Cyprus, became the sole owner. It invested some EUR 25 million and bought out Helios Construction Project. According to the article, the previous parent company is associated with businessman Ahmed Dogan. He was the founder and long-time leader of the Movement for Rights and Freedoms party, representing Muslim minorities.

Both projects are on municipal land

The project spanning more than 200 hectares was initially planned at 180 MW. The lot is on municipal land in Kameno in eastern Bulgaria.

According to the news website, the investment amounts to EUR 92 million. The location near the village of Vratitsa isn’t subject to an environmental impact assessment study except for the intended construction of a 33/110 kV substation.

Terna Energy said its former affiliate Terna, part of the GEK Terna conglomerate, is building the solar power plant in Burgas province.

New hybrid power plant in Bulgaria is part of PPC’s regional expansion

PPC is building its PV plant in the Chirpan municipality in Stara Zagora province. Having included a battery energy storage system in the project, and given the power links with its assets in Romania and Greece, the company is counting on a strategic advantage in the market with the new hybrid facility. PPC is pursuing major expansion in the region, including Italy.

The investment is valued at EUR 97 million, of which the energy storage segment accounts for EUR 10.2 million to EUR 12.8 million, the article adds.

The Colosseum site consists of 11 municipal properties formerly designated as agricultural land, on 200 hectares altogether. PPC bought the project from Enery. The company is headquartered in Austria and active in the renewables sector in Romania as well.

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