RWE and PPC contribute to the acceleration of the energy transition with the construction of photovoltaic projects with a capacity of almost 1GW in Western Macedonia.

  • Investment decisions for the construction of an additional 450 MWp /432 MWac photovoltaic project in Amyntaio
  • Start of construction in the coming months and operation in 2025
  • Total investment €255.4 million, of which €127.7 million will be financed through the Recovery and Resilience Fund “Greece 2.0” and €76.6 million through bank lending, proportionally from Alpha Bank, Eurobank and National
  • Signing of long-term bilateral green power purchase and sale agreements (“green” PPAs) with PPC and RWE Supply & Trading
  • The construction of the remaining eight photovoltaic projects with a total capacity of 490 MWp /434 MWac is in full progress

Two leading energy groups, RWE and PPC, continue to promote Greece’s energy transition through their joint venture METON Energy SA, in which RWE Renewables Europe & Australia (51%) and PPC Renewables (49%) participate. The company made the final investment decision for the construction of an additional photovoltaic project in the country. The PV project in question is the latest project in Amyntaio’s 940 MWp (870 MWac) portfolio, which is now entering the construction phase. In addition, METON Energy SA is developing in Greece another portfolio of photovoltaic projects of a similar size.

The new photovoltaic park “PPC Amyntaio Mine” (project group III) with a total capacity of approximately 450 MWp (432 MWac) is located in Western Macedonia, within the boundaries of the former Amyntaio open-pit coal mine. Construction work is scheduled to begin in the coming months, with operation expected by the end of 2025. The consortium is already building eight large-scale PV projects (project groups I & II) in the wider area, with a total capacity of 490 MWp (434 MWac). , which are expected to be connected to the network within the year.

METON Energy SA, which manages the project, has signed bilateral 10-year green electricity purchase and sale contracts with PPC and RWE Supply & Trading, which will purchase the green electricity produced by the project.

For the €255.4 million investment in the “PPC Amyntaio Mine”, €127.7 million was secured from European Union – NextGenerationEU funds through the “Greece 2.0” Recovery and Resilience Fund. The remaining funds will be financed with bank loans of €76.6 million, proportionally from the banks Alpha Bank SA, Eurobank SA and National Bank of Greece SA, as well as from equity capital of €51.1 million. The financing is in the final stage of financial closure.

Katja Wünschel, Managing Director of RWE Renewables Europe & Australia said: “In cooperation with PPC Renewables we are accelerating the energy transition in Greece. Construction work on our first eight solar projects is in full swing. With our latest investment decision we have prepared the ground for an additional 450 MWp photovoltaic plant. This underlines our strong commitment to the Greek market with almost one gigawatt of PV capacity under construction and large-scale PV projects of a similar size under development.”

Konstantinos Mavros, CEO of PPC Renewables SA, said: “We are pleased to announce the final investment decision for yet another major photovoltaic project in Greece, marking a critical step forward in our commitment to sustainable clean energy. The collaboration between PPC Renewables and RWE Renewables Europe & Australia within the framework of METON Energy SA, underlines our common dedication to promoting Greece’s energy transition. By accelerating the development of our photovoltaic projects with a total capacity of almost one gigawatt, we are actively contributing to the country’s Renewable Energy goals. This project is proof of the success of our cooperation and our constant focus on creating a cleaner, more sustainable energy future for Greece.”

Costas Papamantellos, CEO of RWE Renewables Hellas M.A.E. and of METON ENERGY SA, emphasized: “METON Energy SA delivers its photovoltaic projects at an impressive pace. Within a year, the joint company has successfully developed and made investment decisions for all three groups of projects in Amyntaio with a total capacity of 940 MWp, and is looking forward to connecting 490 MWp to the grid this year. This great achievement is the result of the excellent cooperation between the RWE and PPC teams involved.”