Alpha Bank, Eurobank and National Bank have signed loan agreements with the energy groups RWE and PPC for the construction of four photovoltaic projects, with a total capacity of 730 MWp (691 MWac), in Amyntaio, Western Macedonia, with the contribution of the Recovery and Resilience Facility (RRF). The projects are being developed within the boundaries of the former Amyntaio lignite field, by METON Energy SA, in which RWE Renewables Europe & Australia (51%) and PPC Renewables (49%), subsidiaries of RWE and PPC, participate respectively.
The first financing concerns the construction of three photovoltaic projects with a total installed capacity of approximately 280 MWp (259 MWac). The financing of the projects, totaling 196 million euros, will be done with RRF resources (98 million euros) and with a bank loan of 59 million euros, proportionally from Alpha Bank, Eurobank and National Bank, through separate loan contracts for each project, while METON Energy will participate with 39 million euros of equity in total. The projects are expected to be operational by the end of the first quarter of 2025.
The second financing concerns the construction of the photovoltaic park “PPC Amyntaio Mine” (project group III), with a total capacity of approximately 450 MWp (432 MWac). The total amount of the investment reaches 255.4 million euros, of which 127.7 million will be covered by RRF resources, 76.6 million will come from bank loans in proportion from Alpha Bank, Eurobank and National Bank, while 51.1 million euros will be covered by METON Energy with equity. The park is expected to be operational by the end of 2025 and is the last project of the 940 MWp (870 MWac) portfolio that METON Energy is developing in the Amyntaio area.
As part of the development of the projects, bilateral contracts for the purchase and sale of green electricity from the four new photovoltaic projects have already been signed. For the first three projects, a 15-year contract has been signed with PPC, which will supply the green electricity produced by the projects, while through a 10-year contract, PPC and RWE Supply & Trading (an RWE group company) will purchase the green electricity that will be produced by the “PPC Amyntaio Mine” project.
The investment is implemented with funds of the National Recovery and Resilience Plan “Greece 2.0” as well as funding from the European Union – NextGenerationEU.
