Spes Solaris, a member of the Panagakos group, has been granted a new set of installation licenses for a further seven solar energy parks representing a total capacity of 81 MW.

The licenses, signed yesterday by development and investment minister Adonis Georgiadis, follow ten previous installation licenses for 36 MW in total.

More license approvals are expected to follow for Spes Solaris. The licenses to date represent part of a bigger company plan for 43 solar park projects with an overall capacity of 275 MW in mainland Greece and the Peloponnese.

All the projects in the Spes Solaris solar farm investment plan, included in a fast-track procedure several years ago, have secured fixed tariffs through RES auctions staged by RAE, the Regulatory Authority for Energy, over the past few months.

Having secured fixed tariffs for each of its project plans, Spes Solaris is now submitting applications, gradually, for installation licenses. The development and investment ministry is believed to be processing these applications through fast-track procedures.

Then, as a next step, Spes Solaris will need to sign connection agreements, for each project, with power grid operator IPTO or distribution network operator DEDDIE/HEDNO, before construction commences.

Electrification and completion deadlines vary for each project. Certain solar parks will need to be finalized by the end of this year. Others have until October, 2022.

The size, fixed tariffs and heightening maturity of the Panagakos group investment plan, is proving to be an attraction for other investors.

The plan’s major potential has sparked talks with key players, Greek and foreign, either already active in Greece’s green energy market and looking to boost their RES portfolios or seeking entry.