Macquarie-backed developer Cero Generation has claimed an industry first by launching Greece’s maiden private PPA-backed utility-scale solar project.
Cero, which is part of Macquarie’s Green Investment Group, has said the 100MW Delfini project, located in Prosotsani Drama, will be the first in Greece to sign a private power purchase agreement (PPA).
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The milestone marks further progress in the company’s expansion in Greece after entering in the market a year ago and forming a joint venture with renewables developer Wattcrop to develop up to 750MW of solar PV in the country by 2025.
Earlier this year, PV Tech Premium had a look at Greece’s solar market and how it was primed to take off, even before the European Union made a significant increase of its renewables targets when it updated its EU Solar Energy Strategy alongside the REPowerEU strategy.
Marta Martínez Queimadelos, CEO at Cero Generation, said: “This project is an important step in the expansion of Cero’s Greek portfolio and one of many market-leading projects in our pipeline.”
Currently present in six European markets – United Kingdom, Spain, Italy, France, Poland and Greece – Cero Generation has a solar development portfolio of 9GW.