Greek fossil fuels company HELLENiQ has signed a deal to purchase 180MW solar PV portfolio in its home country from the Greek arm of UK-based renewables developer Lightsource bp.
The acquisition from Lightsource Renewable Energy Greece Holdings (UK) will take effect once the projects have reached commercial operation, which is expected between Q1 and Q3 2024. Financial details of the deal were not disclosed, and over half of the projects are contracted on a long-term basis, HELLENiQ said.
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Last month the company bought a 211MW Romanian PV portfolio from fellow Greek renewables developer Mytilineos, as it looks to expand its portfolio to include 1GW of operating renewable energy assets by 2025, and 2GW by 2030.
In June 2021, Lightsource bp secured a 640MW solar co-development deal in Greece with plans for 200MW of solar capacity to come online over the ensuing 24 months.
Greece is a rising presence in the European PV sector. PV Tech Premium spoke with industry experts earlier this year about the potential and challenges facing the Greek market, in particular the interconnection system which could prove the key to unlocking the country’s solar potential.
