Renewables

PPC Renewables, RWE targeting 2 GW solar deal for Greece by year-end

PPC Renewables RWE 2 GW solar Greece

Photo: Unsplash

Published

September 3, 2020

Country

Comments

comments icon

0

Share

Published:

September 3, 2020

Country:

Comments:

comments icon

0

Share

PPC Renewables and German RWE are working on a formal business agreement on joint development of photovoltaic systems in lignite mining areas in Greece while coal facilities are being shut down. The two companies are reportedly eyeing a deal through December.

Representatives of Germany’s RWE completed a three-day working visit to Greece, where they visited the coal region in Western Macedonia and spoke with counterparts from state-owned PPC Renewables and government officials about the construction of solar power plants of up to 2 GW.

EU funds’ role in upgrading cooperation

The two companies signed a memorandum of understanding in March as the first step of cooperation in transforming the lignite area as the Balkan country abandons the harmful fossil fuel. The domestic media learned they intend to upgrade the relationship to a formal contract by the end of the year.

RWE is reportedly examining the availability of land, financial incentives and licensing speed. Greece is looking to use the European Union’s Just Transition Fund and the program for the economy’s recovery from the COVID-19 impact in its energy transition.

Starting small

The German utility is said to have discussed the Greek schedule for turning open pits into solar power plants in relation to the terms of the memorandum, which stipulates RWE and PPC Renewables would develop projects of as much as 1 GW each. News outlets revealed, citing information obtained from officials, that RWE may take over existing licensed projects.

According to sources familiar with the matter, the endeavor could start with smaller photovoltaic facilities and strengthened along the way. RWE’s delegation met with Minister of Development and Investments Adonis Georgiadis and his team.

Insiders claim RWE is already looking for smaller licensed solar projects to buy in Western Macedonia

PPC Renewables is controlled by Public Power Corp. or PPC. It signed several agreements with domestic and foreign companies on joint ventures for the nation’s coal phaseout and investment in green energy. The company is tasked with developing another 1 GW in solar power plants in coal areas in the Peloponnese.

In a major asset swap with German E.ON, completed in July, RWE boosted its renewables portfolio to 9 GW.

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

bih republic of srpska hydropower plants bistrica tunnels petar djokic

Three hydropower plants on Bistrica river to be finished by end-2026

18 April 2025 - Chinese company AVIC is in charge of building the three hydropower plants on the Bistrica, with a total capacity of 39 MW

bih federation ephzhb court poklecani urban permit arhaus

Supreme Court of Federation of BiH annulls urban permit for Poklečani wind farm

17 April 2025 - The project is being developed by Elektroprivreda HZHB, one of the three state-owned power utilities in Bosnia and Herzegovina

Minister Admir Sahmanović formally assumes energy, mining portfolio in Montenegro

Minister Admir Šahmanović formally assumes energy, mining portfolio in Montenegro

17 April 2025 - Minister of Energy and Mining of Montenegro Admir Šahmanović was formally voted in as the two ministries that he ran were merged

Nofar Energy 265 MW solar power plant Corbii Mari near Bucharest

Nofar Energy inks deal for 265 MW solar power plant near Bucharest

17 April 2025 - The operator of the biggest solar power plant in Romania is about to start building a much bigger facility in Corbii Mari