The GEK Terna conglomerate gave the best offer for the construction of a 550 MW photovoltaic plant in northern Greece, in an area that was used for coal mining. The investor, PPC Renewables, aims to complete it within two years.
Competing with Metka, RES Invest, CMEC, AVAX and Aktor for the contract for the construction of the biggest solar power plant in Greece, GEK Terna emerged as the winner, domestic media reported. PPC Renewables, a subsidiary of Public Power Corp., the country’s flagship coal and electricity producer, has said in the terms of the tender that it earmarked EUR 216 million for the endeavor. The figure excludes solar panels.
The conglomerate will be tasked with producing a study, supplying the remaining equipment and building, installing and commissioning the plant. It is envisaged to have 550 MW in nominal capacity, which would make it one of the largest in Europe as well.
GEK Terna to receive bonus if it beats deadline by two months
The location is within the Ptolemaida lignite mining hub in the Western Macedonia province in northern Greece. It spans an area within the municipalities of Eordaia and Kozani.
PPC Renewables gave a 22-month deadline for getting the solar power plant online. In case the contractor finishes the works at least 60 days earlier, it is entitled to a premium of 2.5% of the value of the contract, according to reports.
News outlets learned that the company wouldn’t participate in auctions with the project, but that it would sell electricity through bilateral deals – power purchase agreements (PPA).
PPC Renewables is already finishing 230 MW photovoltaic complex in Ptolemaida
The largest photovoltaic plant in Greece, at 204 MW, is owned by HELLENiQ Energy, formerly known as Hellenic Petroleum. The facility is located in Kozani. However, PPC Renewables is about to finish a 230 MW complex in Ptolemaida, also on former coal land.
Terna, from the GEK Terna Group, was picked last year by PPC Renewables to install a 50 MW solar power plant in the Megalopolis area in the Peloponnese. It is the country’s other coal hub.
PPC’s 550 MW facility will be one of the largest solar power plants in Europe
In August, Iberdrola commissioned the largest solar plant in Europe, with an installed capacity of 590 MW. The facility is in the western Spanish region of Extremadura. The country also hosts the largest photovoltaic complex in Europe, with 15 power plants of 50 MW each in Aragon.
In Serbia, Fintel Energia and MK Group are developing a 660 MW agrisolar project, which will combine crop production with electricity generation. El Sun Energy plans to build a 950 MW solar power plant in Croatia.
In France, a 1 GW solar power project is underway. A power plant with a nameplate capacity of 1.35 GW will soon be completed in Turkey’s Konya province, which is geographically in Asia.
PPC and its renewables branch have established several partnerships with domestic and foreign companies.
Greece aims to end coal use by 2028.