Meton Energy S.A., the joint venture between RWE and PPC, has reached the final investment decision for two new photovoltaic (PV) projects in the Prefecture of Central Macedonia in Northern Greece.
The Kotyli and Neo Syrakio solar farms will have a combined capacity of 567 MWp (518 MWac), with construction set to begin this spring and commissioning expected in 2027.
Once operational, the two solar farms are projected to generate enough electricity to power over 140,000 households annually. Meton Energy has secured 10-year Power Purchase Agreements (PPAs) with PPC and RWE Supply & Trading to distribute the green electricity.
The investment, totalling €418m, is supported by €175m in European Union – NextGenerationEU funds through the “Greece 2.0” Recovery and Resilience Facility. The remainder will be covered by €169m in commercial debt and shareholder contributions.
The new projects build on Meton Energy’s ongoing development efforts. The joint venture has already energised five solar farms with a combined 210 MWp and completed construction of a sixth, bringing the total to 315 MWp.
Three additional solar farms (625 MWp) are due online by the end of 2025. All nine are located in Western Macedonia on the former Amynteo lignite mine site.
“With our latest investment decision, we underpin once again our strong commitment to the Greek market with now roughly 1.5 GW of solar capacity in deployment,” said Katja Wünschel, CEO of RWE Renewables Europe & Australia.
Konstantinos Mavros, CEO of PPC Renewables, added: “Both our current projects in the old lignite mines in Amyntaio and the new investment in Central Macedonia, mean more new jobs… and a promise for sustainable growth and a brighter future for Greece.”
[Image credit: RWE]
