On April 2, 2024, the Greek companies MYTILINEOS Energy & Metals and KARATZIS SA signed a long-term power purchase agreement (PPA) for 210 MW of green energy from a 262 MW solar portfolio. Under the terms of the agreement, MYTILINEOS will be able to purchase 80% of the energy it produces, strengthening its green energy supply basket. This portfolio includes 35 solar projects, all located in the Larissa prefecture.
Solar project development
The projects, with a total budget of 180 million euros, were developed entirely by KARATZIS as a strategic investment. Construction was entrusted to MYTILINEOS M Renewables, a developer and contractor focused on sustainable development and local investment. All the solar farms are due to come on stream in the third quarter of 2024 and, under the PPA, are expected to generate 380 GWh annually, equivalent to the consumption of 97,000 Greek homes, replacing around 162,000 tonnes of CO2 emissions per year.
Sustainable development strategy
MYTILINEOS seeks to secure green PPAs to reduce energy costs for both its own assets and those of its business partners. This transaction further implements its sustainable approach in the region by aiming to mix renewable APPs with third parties or with its own assets. For its part, KARATZIS is strengthening and expanding the Group’s renewable energy portfolio by actively investing in renewable energy projects and energy storage systems.
This agreement is the second PPA signed in Greece for MYTILINEOS, following the agreement reached with EDP Renewables in February 2023, while the company continually secures PPAs for its international portfolio with renowned partners.
