RWE and PPC have launched the final word funding dedication for the event of a 450 MWp photograph voltaic plant in Greece by the use of their three means partnership, Meton Energy S.A. RWE has moreover shared the details of a 35 MW/41 MWh battery storage mission – its first utility-scale storage facility throughout the Netherlands.
German energy agency RWE and Greek state-owned utility PPC have launched the final word funding dedication for the event of a 450 MWp photograph voltaic plant all through the boundaries of a former lignite mine in Western Macedonia, northern Greece. They will assemble the mission by the use of their three means partnership agency, Meton Energy.
The plant marks the ultimate mission throughout the companies’ 940 MWp/870 MW (AC) Amynteo portfolio. The companions are already establishing eight large-scale photograph voltaic initiatives throughout the former coal space, with a whole functionality of 490 MWp. They talked about they rely on to connect the installations to the grid this yr.
Constructing work on the newest plant, Orycheio Dei Amynteo, is scheduled to start throughout the coming months, with commissioning anticipated by the tip of 2025. Meton Energy has signed a 10-year bilateral vitality purchase settlement (PPA) with PPC and RWE Present & Shopping for and promoting, which may purchase the inexperienced electrical vitality.
The newest mission has amassed €255.4 million ($274.5 million) of funding, matter to financial shut. This accommodates €127.7 million from the European Union’s NextGenerationEU funds by the use of the Restoration and Resilience Facility. The companies have secured one different €76.6 million by the use of enterprise debt from Alpha Monetary establishment, Eurobank and Nationwide Monetary establishment of Greece, together with €51.1 million of shareholders’ equity.
“With our latest funding dedication, we have prepared the underside for an additional 450 MW photovoltaic plant – RWE’s largest photograph voltaic mission beneath constructing to this point,” says talked about Katja Wünschel, CEO of RWE Renewables Europe & Australia. “This underpins our sturdy dedication to the Greek market with virtually 1 GW of photograph voltaic functionality beneath constructing and large-scale photograph voltaic initiatives of comparable measurement beneath progress.”
Earlier this month, PPC launched financing for a 550 MW PV plant within the an identical space, as part of wider plans to place in 3 GW of photograph voltaic in former mining areas.
Individually, RWE has started establishing its first utility-scale battery storage mission throughout the Netherlands. The German energy agency talked about on Wednesday that the 35 MW/41 MWh battery energy storage facility will perform a whole of 110 lithium-ion battery racks put in at its Eemshaven vitality plant on a web site spanning 3,000 sq. meters.
The storage system will present administration energy and performance in wholesale markets from 2025. It has been designed to be almost coupled all through utilized sciences with RWE vitality crops throughout the Netherlands, along with the company’s OranjeWind offshore wind farm, which is for the time being in progress.
“RWE’s first utility-scale battery storage mission throughout the Netherlands is a gigantic step in path of a reliable electrical vitality present in an an increasing number of inexperienced nationwide energy system,” talked about Roger Miesen, CEO of RWE Period and nation chair for the Netherlands. “Thus, we’re actively contributing in path of stabilizing the Dutch electrical vitality grid.”
RWE operates battery storage strategies with an complete worldwide functionality of spherical 500 MW and has higher than 1 GW of battery storage initiatives beneath constructing worldwide, along with a 220 MW mission throughout the German state of North Rhine-Westphalia. It plans to extend its worldwide battery storage enterprise to 6 GW by 2030.
Related Merchandise In The Class
