RWE and PPC Spearhead Greek Energy Transition with Nearly 1 GW Solar Project

RWE and PPC’s joint venture, Meton Energy S.A., greenlights the final solar project in Greece’s energy transition. The “Orycheio Dei Amynteo” farm marks the completion of the 940 MWp Amynteo portfolio and initiates construction soon. Located in Western Macedonia, this 450 MWp solar farm repurposes the former Amynteo open-pit lignite mine.

This is part of Meton’s broader solar project pipeline, with eight large-scale projects underway, totaling 490 MWp. Financing for the €255.4 million investment includes €127.7 million from the EU’s NextGenerationEU funds and commercial debt financing, with the remaining from shareholder equity.

Katja Wünschel, CEO RWE Renewables Europe & Australia, said, “In partnership with PPC Renewables we are accelerating the energy transition in Greece. Construction work on our first eight solar farms is well underway. With our latest investment decision, we have prepared the ground for an additional 450-megawatt photovoltaic plant – RWE’s largest solar project under construction to date. This underpins our strong commitment to the Greek market with nearly one gigawatt of solar capacity under construction and large-scale solar projects of similar size under development.”

Konstantinos Mavros, CEO of PPC Renewables, added, “We are pleased to announce the final investment decision for yet another significant solar project in Greece, marking a crucial step forward in our commitment to sustainable clean energy. The collaboration between PPC Renewables and RWE Renewables Europe & Australia under Meton Energy S.A. underscores our shared dedication to fostering Greece’s energy transition. By accelerating the development of our solar projects with a combined capacity of nearly one gigawatt, we are actively contributing to the country’s renewable energy goals. This venture is a testament to the strength of our partnership and our unwavering focus on creating a cleaner, more sustainable energy future for Greece.”

Costas Papamantellos, CEO of RWE Renewables Hellas and CEO of Meton Energy S.A., noted, “Meton Energy S.A. is delivering its solar projects at an impressive pace. Within one year, the joint venture company has successfully developed and taken investment decisions on all three clusters of the Amynteo portfolio with a total capacity of 940 MWp, and is looking to connecting 490 MWp to the grid already this year. This great achievement is the result of the excellent cooperation between the teams involved at RWE and PPC.”