RWE and PPC approve €418mn investment for two solar projects in Greece

RWE and PPC are launching two photovoltaic projects in Central Macedonia totalling 567 MWp, with an investment of €418mn, including €175mn from the European recovery plan.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Meton Energy S.A., a joint venture between RWE Renewables Europe & Australia (51%) and PPC Renewables (49%), has confirmed the final investment decision for the construction of two large-scale solar parks located in Central Macedonia, northern Greece. The photovoltaic plants of Kotyli and Neo Syrakio will have a combined capacity of 567 megawatt-peak (MWp), equivalent to 518 megawatts alternating current (MWac). Construction is expected to begin in spring 2025, with commissioning scheduled for 2027.

Financial structure and contractual agreements

The total investment for the two projects is estimated at €418mn, of which €175mn will be allocated via the European recovery plan “Greece 2.0”, backed by the NextGenerationEU programme. The remaining €243mn is being financed through €169mn in commercial debt provided by Greek banks, complemented by shareholder equity contributions. Ten-year Power Purchase Agreements (PPAs) have been signed with Public Power Corporation (PPC) and RWE Supply & Trading for the sale of the generated electricity.

Progress of projects in Western Macedonia

Meton Energy S.A. is also overseeing a portfolio of nine separate photovoltaic projects within the former open-cast lignite mine of Amynteo, located in Western Macedonia. To date, five solar farms with a combined capacity of 210 MWp are already operational, while construction of a sixth project totalling 105 MWp has been completed and is awaiting grid connection. An additional three solar farms, amounting to 625 MWp, are expected to be commissioned before the end of 2025.

Expansion of the solar portfolio

Altogether, the solar projects implemented in the former mining area of Amynteo reach a capacity of 940 MWp (870 MWac). These initiatives are part of the energy diversification strategy of both partners, thereby strengthening their footprint in the Greek market. According to estimates, the annual energy output from the new installations in Central Macedonia will be sufficient to meet the electricity needs of over 140,000 households.

The solar photovoltaic installers sector will grow by 15 % annually through 2030, driven by residential demand, public incentives and increasing integration into urban projects.
ACWA Power secures the NOOR Midelt 2 and 3 solar-storage project in Morocco, outbidding European and Emirati competitors, with decisive backing from Gotion High-Tech’s storage technology.
QatarEnergy has signed a contract with Samsung C&T to build a solar power plant in Dukhan, set to reach 2,000 MW capacity by 2029, doubling the country’s solar output.
Billion Watts begins construction on its first solar-plus-storage project in Australia, scheduled for 2026, relying on an international consortium and a strategy focused on the volatility of the national electricity market.
Longroad Energy has closed financing and started construction of the 1000 Mile Solar project in Texas, with a capacity of 400 MWdc, supported by Meta and an international banking consortium.
Sunrun completed its fifth securitization deal of 2025, bringing non-recourse debt raised in the third quarter to over $1.5bn.
Odyssey Energy Solutions secures $7.5 million from British International Investment to support access to solar equipment under Nigeria’s DARES programme.
The Cameroonian government launches the extension of two solar plants in the Far North, increasing their combined capacity to 64.4 MWp, with support from international investors.
Statkraft has signed an agreement to sell solar and wind assets in India to Serentica Renewables, marking a strategic refocus on Europe and South America.
Independent power producer UNITe has been selected to develop two solar power plants on municipal land in Avèze and Malauzat, following a call for tenders by the French Energy Regulatory Commission.
Solar and storage accounted for 82% of new U.S. power capacity in early 2025, despite federal measures slowing their expansion.
Statkraft France won a 15.5 MWc solar project in Mourmelon-le-Grand during the latest national tender round, bringing its total awarded capacity to nearly 70 MWc in less than a year.
Solar growth in Central Europe has doubled that of the European Union since 2019, reshaping the energy mix and boosting battery manufacturing in the region.
Canadian energy producer Cordelio Power has completed commissioning of its Winfield solar project, a 150 MW facility backed by a 15-year contract with Microsoft and a $313mn structured financing deal.
Platform Anza surpassed its 2024 volume in just eight months, responding to developers’ urgency to secure projects ahead of regulatory and fiscal changes expected in 2026.
US-based AGCO has signed a ten-year virtual power purchase agreement with BRUC, covering a 100 MW solar project in Spain, to secure part of its European energy consumption.
Canadian developer Innergex has won all six projects of the Grenier des Essences portfolio for a total of 85 MW, strengthening its position in France’s ground-mounted solar sector.
Canadian Solar unveils its new low-carbon solar modules integrating heterojunction cells and thinner wafers, achieving up to 24.4% efficiency and a peak power output of 660 Wp.
Elmya Energy and Atlantica Sustainable Infrastructure have created a joint venture targeting 4 GW of renewable energy projects in the United States, focused on the ERCOT and WECC markets.
Louth Callan has completed the Mousam River solar project in Sanford, marking a key milestone in the deployment of utility-scale energy infrastructure across the United States.

Log in to read this article

You'll also have access to a selection of our best content.