Renewables

EU approves Masdar-Taaleri’s 65 MW solar power joint venture in Greece

EU Masdar-Taaleri 65 MW solar joint venture Greece

Succo from Pixabay

Published

July 30, 2021

Country

Comments

0

Share

Published:

July 30, 2021

Country:

Comments:

0

Share

The European Union’s regulatory branch agreed with the establishment of a firm for the Asopia solar power project in Greece. Masdar, Taaleri, Constantakopoulos and Autohellas are jointly developing the 65 MW photovoltaic facility in Boeotia.

The European Commission has approved the creation of a joint venture based in Greece by Abu Dhabi Future Energy Company PJSC (Masdar) of United Arab Emirates, Taaleri Energia of Finland, Kyoto SA and Autohellas Tourist and Trading, both of Greece. The firm will be active in the development, financing, construction, operation and maintenance of the Asopia solar power plant project.

The decision was made under the European Union’s Merger Regulation. Masdar-Taaleri Generation or MTG is the two companies’ joint venture for Central and Eastern Europe, registered in Serbia. In May they said it would develop the solar power plant with Greek partners Constantakopoulos and Autohellas.

No competition concerns

Asopia, located in Boeotia (also known as Beotia or Viotia) near Athens, is planned to have 65 MW in capacity. Kyoto is Constantakopoulos Group’s real estate and energy arm. Autohellas is active in the markets of car rental, import and trade.

Masdar is officially called Abu Dhabi Future Energy Co. It is wholly owned by Mubadala Investment Co., which is in turn controlled by the UAE’s Emirate of Abu Dhabi. Masdar advances solutions in energy, water, urban development and clean technologies.

The European Commission concluded that the proposed acquisition would raise no competition concerns and said the greenfield joint venture is expected to have limited activities within the European Economic Area.

MTG’s expansion in Greece

Masdar and Taaleri are working on the project separately from the cooperation deal with PPC Renewables, a subsidiary of government-owned Public Power Co. which is tasked with the country’s energy transition activities. Greece vowed to stop using coal by 2025 and replace lignite plants with renewables – mostly photovoltaics.

PPC Renewables inked cooperation agreements in the sector with a string of domestic and foreign companies.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

mercom top solar developers total

Who is the largest solar developer in the world? Oil supermajor

06 December 2023 - Of the top ten global solar developers, six are based in Europe, three in North America, and one in South Asia, according to the latest report

vetropack straza koer virtual power plant

Vetropack Straža joins KOER virtual power plant

05 December 2023 - Technology company KOER launched the first virtual power plant in Croatia in February 2022, becoming the first aggregator

Initiative Coal Regions Transition Western Balkans Ukraine leave behind

How can energy transition be just to people in coal regions

05 December 2023 - The authorities must act before people leave, according to the speakers at the annual meeting of the Initiative for coal regions in transition in the Western Balkans and Ukraine

North Macedonia just energy transition platform EUR 3 billion

North Macedonia presents just energy transition platform worth EUR 3 billion

05 December 2023 - North Macedonia is preparing an investment plan for a coal phaseout by 2030, grid strengthening, new capacities and the just transition