PPC Renewables, Cantreva preparing 1.3 GW in joint solar power projects in Greece

PPC Renewables Cantreva 1 3 GW joint solar projects Greece

Photo: Thomas Coker on Unsplash


June 23, 2022






June 23, 2022





PPC is the minority partner in a joint venture with the Cantreva Group that has producer certificates for more than 2.5 GW in photovoltaic projects in Greece, of which 1.31 GW is being formally reregistered through two firms. PPC has significantly strengthened its renewable energy project pipeline in the past months and more deals are reportedly underway.

After Greece’s Public Power Corp. (PPC or DEI) recently signed strategic cooperation deals with three firms from the Cantreva Group, two of the joint ventures with PPC Renewables have applied to adjust the producer certificates for 1.31 GW in 13 solar power projects, reported.

The utility holds 49% in Pivot Solar, Teicheio and Baliaga while Cantreva controls 51% through a subsidiary. They have a combined solar power pipeline of more than 2.5 GW and the group has producer certificates for over 3 GW in total, the article adds.

Cantreva is an engineering, procurement and construction (EPC) contractor, but it is also developing renewable energy projects including wind parks. The company founded in 2010 builds and manages such facilities in Russia, Italy and Poland, too.

Pivot Solar received producer certificates last year for 965 MW in photovoltaics. There are six projects in the Kozani regional unit with 715 MW in total capacity, three are in Serres, also in the north of Greece, with an overall 135 MW, and the site for the remaining 115 MW endeavor is in the nearby Kilkis regional unit.

The Teichio joint venture has the same kind of permits for solar power projects of 150 MW and 145 MW in Kozani and another one, of 50 MW in planned capacity, for a location in Florina, the report reveals. All three regional units except Kozani border North Macedonia.

PPC Renewables takes over 112 MW green power portfolio from Volterra

In other news, PPC said a week ago that it took over e-mobility startup Carge and its app with an interactive map with directions to charging stations for electric vehicles. The utility operates 550 such points in Greece and it offers services in the sector through its DEI Blue online platform.

Also, PPC reached an agreement earlier this month with AVAX on the acquisition of its renewable energy projects with a total capacity of 112 MW in Greece. They were run by its subsidiary Volterra. According to the statement, the transaction corresponds to an enterprise value of EUR 133 million.

The project firms will come under the control of PPC Renewables, the parent company’s branch responsible for green energy. It already had a share of 45% since 2019 in two of the businesses, which have a combined wind farm portfolio of 69.7 MW. Two wind power units of 16 MW in total are already in operation.

PPC Renewables is also getting a future 2.7 MW solar park and two other wind farm projects of 39.5 MW in Kozani and Kastoria, where construction is expected to begin soon, the companies said.

Next move is in offshore wind

PPC has started negotiations with a group of major offshore wind developers as preparations are underway for the first auctions for such projects in Greece, Energypress reported in early June. The utility has the ambition to establish a joint venture with one or two companies with equal participation, the article revealed.

Aker from Norway, French TotalEnergies and EDF and RWE are reportedly some of the desirable partners.

The government conducted a technical study last year which showed the potential of just under 10 GW for fixed-bottom turbines, which can be installed in shallow waters from north Evia to Alexandroupolis in the Aegean Sea. Separately, the estimate for floating wind came in at a stunning 35 GW to 40 GW.

Counting solar gigawatts

PPC has a 5 GW portfolio of its own renewable energy projects, of which 2.2 GW have clearance for grid connection obtained, and another 1.8 GW is waiting to cross to that phase. In the 80% of the capacities that are licensed, 3.9 GW are for solar power.

The utility already operates 239 MW and 355 MW is under construction. PPC has an ongoing tender for contractors for four photovoltaic plants in the country’s north with a combined capacity of 94 MW. The deadline is July 5. The company is expecting to issue public calls soon for solar power endeavors of 500 MW in total.

Of note, a joint venture founded by PPC Renewables and RWE Renewables launched a tender almost two months ago for a contractor for a 191 MW solar power plant near the former Amyntaio coal plant in northern Greece. The firm, called Meton Energeiaki, has nearly 1 GW in the pipeline. The goal is 2 GW in jointly owned photovoltaic units.

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