RWE and PPC, through their joint venture Meton Energy S.A., have taken a final investment decision for the construction of two large-scale photovoltaic (PV) projects. These projects will be situated in the Prefecture of Central Macedonia in Northern Greece. These are the Kotyli and Neo Syrakio solar farms with a total capacity of 567 MWp. The construction of these projects is expected to commence in spring 2025 and are expected to be commissioned by 2027.
Furthermore, Meton Energy S.A. has inked a 10-year bilateral power purchase agreement with PPC and RWE, which will buy the green electricity generated by the new solar farms. The total planned investment in the project is €418 million, out of which €175 has been secured through NextGenerationEU funds via the Recovery and Resilience Facility plan “Greece 2.0”. Additionally, the remaining amount is being financed through a €169 million commercial debt facility and through shareholders’ contribution.
Earlier in February 2024, RWE and PPC, through their joint venture company Meton Energy, made a final investment decision on the construction of Orycheio Dei Amynteo solar farm situated in Western Macedonia, Greece. The solar farm with a total capacity of 432 MW is the latest project of the 870 MW Amynteo portfolio.
