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Public Power Corp, RWE to build five solar farms in Greece

Reuters
·1-min read
Illustration shows Electric power transmission pylon miniatures and RWE logo

(Reuters) - Greece's biggest power utility Public Power Corp. (PPC) and Germany's RWE have taken a final investment decision to build five solar farms in Greece, the two companies said on Thursday.

The farms will cost 180 million euros ($196 million) and have a total capacity of about 200 megawatts (MW).

They are expected to be fully operational by the end of the first quarter of 2024, the companies said in a joint statement.

Power produced at the parks, which will be situated within a former open pit coal mine in northern Greece, will be sold to third parties via bilateral power purchase agreements of between 10 and 15 years.

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RWE and PPC have set up a joint venture which is developing large-scale solar farms in Greece of a total capacity of up to 2 gigawatts.

($1 = 0.9167 euros)

(Reporting by Angeliki Koutantou; editing by Jason Neely)