PPC Renewables has named METKA as the winning bidder of a tender for the development of a 200-MW solar farm in the country’s north, in the west Macedonia region.
PPC Renewables’ most ambitious project to date, it constitutes the third and largest section of a 230-MW solar energy complex.
Swift development of this third section is expected as PPC Renewables has already secured the project’s financing needs from a group of Greek banks.
Construction of the project, to be equipped with bifacial panels and trackers, is expected to commence in March.
As for the 230-MW solar energy project’s two smaller sections, both 15 MW, one is nearing completion while construction work at the other is in progress.
PPC Renewables, a subsidiary of power utility PPC, is also moving ahead with a tender for a 50-MW solar energy project in Megalopoli, Peloponnese. Bids submitted by five major groups, Greek and foreign, seeking this project’s development contract have been opened.
The Megalopoli solar farm is planned to be Greece’s first RES project that will not participate in RES auctions for tariffs. Instead, PPC Renewables intends to establish two-way contracts through the target model framework.
Over the next 24 months, PPC Renewables plans to begin developing projects with a total capacity of 500 MW, which would put the company on track towards achieving an installed-capacity target of 1.5 GW by 2024.
Parent company PPC’s updated business plan includes investments totaling 3.4 billion euros by 2023, 34 percent of these in the renewable energy sector. PPC is aiming for a fivefold increase in RES output, from 0.3 to 1.6 TWh.
PPC Renewables, possessing the country’s biggest RES portfolio following its latest moves and plans, may utilize some of its RES licenses for joint ventures with Germany’s RWE. Recent meetings between the two sides have increased the likelihood of a partnership.