RWE and PPC have introduced the ultimate funding resolution for the development of a 450 MWp photo voltaic plant in Greece by means of their three way partnership, Meton Vitality S.A. RWE has additionally shared the small print of a 35 MW/41 MWh battery storage mission – its first utility-scale storage facility within the Netherlands.
German vitality firm RWE and Greek state-owned utility PPC have introduced the ultimate funding resolution for the development of a 450 MWp photo voltaic plant throughout the boundaries of a former lignite mine in Western Macedonia, northern Greece. They’ll construct the mission by means of their three way partnership firm, Meton Vitality.
The plant marks the final mission within the firms’ 940 MWp/870 MW (AC) Amynteo portfolio. The companions are already establishing eight large-scale photo voltaic initiatives within the former coal area, with a complete capability of 490 MWp. They stated they count on to attach the installations to the grid this yr.
Development work on the most recent plant, Orycheio Dei Amynteo, is scheduled to start out within the coming months, with commissioning anticipated by the tip of 2025. Meton Vitality has signed a 10-year bilateral energy buy settlement (PPA) with PPC and RWE Provide & Buying and selling, which is able to buy the inexperienced electrical energy.
The newest mission has gathered €255.4 million ($274.5 million) of funding, topic to monetary shut. This consists of €127.7 million from the European Union’s NextGenerationEU funds through the Restoration and Resilience Facility. The businesses have secured one other €76.6 million by means of industrial debt from Alpha Financial institution, Eurobank and Nationwide Financial institution of Greece, along with €51.1 million of shareholders’ fairness.
“With our newest funding resolution, we have now ready the bottom for an extra 450 MW photovoltaic plant – RWE’s largest photo voltaic mission underneath building so far,” says stated Katja Wünschel, CEO of RWE Renewables Europe & Australia. “This underpins our sturdy dedication to the Greek market with practically 1 GW of photo voltaic capability underneath building and large-scale photo voltaic initiatives of comparable measurement underneath growth.”
Earlier this month, PPC introduced financing for a 550 MW PV plant in the identical area, as a part of wider plans to put in 3 GW of photo voltaic in former mining areas.
Individually, RWE has began constructing its first utility-scale battery storage mission within the Netherlands. The German vitality firm stated on Wednesday that the 35 MW/41 MWh battery vitality storage facility will characteristic a complete of 110 lithium-ion battery racks put in at its Eemshaven energy plant on a web site spanning 3,000 sq. meters.
The storage system will provide management vitality and function in wholesale markets from 2025. It has been designed to be just about coupled throughout applied sciences with RWE energy crops within the Netherlands, together with the corporate’s OranjeWind offshore wind farm, which is at present in growth.
“RWE’s first utility-scale battery storage mission within the Netherlands is a giant step in the direction of a dependable electrical energy provide in an more and more inexperienced nationwide vitality system,” stated Roger Miesen, CEO of RWE Era and nation chair for the Netherlands. “Thus, we’re actively contributing in the direction of stabilizing the Dutch electrical energy grid.”
RWE operates battery storage programs with an general world capability of round 500 MW and has greater than 1 GW of battery storage initiatives underneath building worldwide, together with a 220 MW mission within the German state of North Rhine-Westphalia. It plans to broaden its world battery storage enterprise to six GW by 2030.
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