Terna to invest EUR 170 million in three floating photovoltaic power plants

Greek energy company GEK Terna Group has submitted to the national Regulatory Authority for Energy (RAE) the applications for producer certificates for three floating photovoltaic (FPV) systems at artificial reservoirs, with a total capacity of 265 MW.

The applications for projects using this innovative clean energy production technology concern the installation of a 120 MW facility at Kastraki, 103 MW at the Pournari lake, and 42 MW at the Stratos reservoir.

The total investment in the three renewable energy facilities will exceed EUR 170 million, according to the company’s website.

The three floating photovoltaic systems will be installed on locations outside the Natura areas, with a coverage rate not exceeding 5.5%, in accordance with the International Sustainability Practices.

The investment in floating PV will increase the existing target for total installed capacity from 2.8 GW to over 3 GW

These projects are a new addition to the investment plan for the production and storage of clean energy. Therefore, the implementation of the three floating photovoltaic systems will increase the existing target for total installed capacity in the next five years from 2.8 GW to over 3 GW.

Currently, Terna Energy has more than 1,800 MW in operation, under construction or ready for construction in Greece, the US, and Central and Eastern Europe.

Specifically, the total installed capacity in Greece and abroad amounts to 1,373 MW, while an additional 430 MW is under construction or ready for construction.