RWE and PPC will construct two new solar farms in Greece’s Northern Macedonia totaling to 567 MWp (518 MWac). The Kotyli and Neo Syrakio solar projects in Greece will cost RWE and PPC €418 million with the 2-years construction planned to start this spring. The announcement comes after the signing of the Financial Investment Decision (FID). At the table for the two new large-scale solar projects in Northern Greece were RWE and PPC’s Meton Energy JV.
The Kotyli and Neo Syrakio solar projects factsheet
Location: Prefecture of Central Macedonia, Northern Greece
Developers: RWE, PPC JV (Meton Energy S.A)
Cost: €418 million
Solar farm capacity: 567 MWp
Construction start date: Spring 2025
Project commissioning date: 2027
The new solar projects by RWE and PPC in Greece
RWE and PPC’s Kotyli and Neo Syrakio solar projects in Greece will supply up to 140,000 homes with clean energy once commissioned in 2027.
The two solar projects under the Meton Energy JV already have Power Purchase Agreements (PPAs) signed with RWE and PPC. Additionally, the bilateral agreements cover a period of 10 years.
The cost of the solar projects in Greece
RWE and PPC’s two new solar projects in Northern Greece got their funds from the European Union (EU) and other stakeholders.
The EU gave a bulk of the sum at, €175 million. This is part of its NextGenerationEU funds through the “Greece 2.0” Recovery and Resilience Facility (RRF) plan for the country. Also contributing to the €418 million for the two new Kotyli and Neo Syrakio solar projects in Greece are interested shareholders and debt funding. These hold €169 million stake in the project.
Solar projects under RWE’s partnership with PPC
The two energy companies’ solar energy portfolio in Greece is close to 1GWp. With their current cumulative standing at 940 MWp (870 MWac), the Kotyli and Neo Syrakio solar projects in Greece will join nine other solar projects under RWE and PPC.
Also, of the nine solar projects in Western Macedonia in Northern Greece, three at a cumulative capacity of 625 MWp expect commissioning by end of 2025. Of the remaining six solar projects, one has also recently completed construction.
Interestingly, the nine solar projects overseen by RWE and PPC are also situated around a former opencast lignite mine. Referring to the two solar projects as “land rehabilitation projects” will be an understatement.
Views on the new solar projects
The creation of a new, clean and sustainable future for Greece has also been met with great enthusiasm from both sides of the table. Alongside “accelerating the energy transition in Greece”, as put by the CEO RWE Renewables Europe & Australia, Katja Wünschel, the projects will also benefit the locals in a handful of ways. New jobs slots are also anticipated during the construction and operational phases.
