Germany’s RWE and Greece’s state-owned PPC are at present constructing 5 photo voltaic farms with a complete of 210 MW at a former lignite mine in Greece’s Macedonia area. The vegetation will likely be operational on the finish of the primary quarter of 2024.
Meton Power SA, a three way partnership owned 51% by RWE and 49% by PPC, introduced in a press launch that it has signed energy buy agreements (PPAs) for 3 of the 5 photo voltaic farms that now beneath building. Greek energy utility Heron is the client, in line with the assertion. The press launch doesn’t state the capability of the three PV vegetation, nevertheless it says that the PPAs vary from 10 to 12 years and are involved about 192 GWh of photo voltaic power per 12 months.
The PPAs mark a brand new starting for the Greek power market, as they have to be executed with out subsidies. This a part of the Greek photo voltaic market remains to be in its infancy. Within the early years of renewable power improvement, renewable energy vegetation had been paid based mostly on feed-in tariffs. Greece later moved to renewable power remuneration via premium tariffs, set competitively via auctions. However the RWE-PPC three way partnership is Greece’s boldest and most mature step in direction of subsidy-free power so far.
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