A prospective 200-MW photovoltaic park planned development for Kozani, northern Greece, by PPC Renewables, a wholly-owned subsidiary of the main power utility PPC, appears set to be reinducted into the fast-track investments category, but its reinclusion will not come with all the benefits offered in the past.
Though this investment can, as a result, be expected to proceed at a more rapid pace than other projects, it will not be able to secure a fixed price for renewable energy output, as was the case with PV investments qualifying for fast-track procedures in the past.
The Kozani investment will need to secure its tariff levels at RES auctions as any projects previously removed from the fast-track category, as was the case with this PV park, can no longer be offered fixed tariffs and avoid RES auctions, energypress sources have explained.
The Kozani project, envisioned as the world’s biggest photovoltaic park by former Prime Minister George Papandreou during his tenure just under a decade ago, was removed from the fast-track category several years ago as a previous PPC administration believed the investment plan stood no chance of being actualized. Consequently, this fast-track removal will now deprive the prospective investment of the right to a fixed price for output. The loss of this right cannot be regained, sector experts explained.
The setback is not expected to prevent investors from wanting to join PPC Renewables to co-develop the major-scale PV project, licensed many years ago. Its budget has been estimated at 180 million euros.
According to the same energypress sources, PPC Renewables will seek an investment partner willing to take on the greater part of this cost. A Chinese partner has not been ruled out.
PPC Renewables has already signed a series of MoUs with China’s Sumec Group, a member of the China National Machinery Industry Corporation (Sinomach), for the development of RES projects in Greece and the wider region. This does not necessarily mean that PPC Renewables will also join forces with Sumec for the Kozani PV investment.
Sources said the search by PPC Renewables for an investment partner will commence as soon as the Kozani project regains its fast-track status, minus the fixed price rights.