Greek electricity supplier Heron has signed power purchase agreements (PPAs) with Meton Energy, which will add three new solar projects with an estimated annual production of 192GWh to Heron’s portfolio.
Meton will build the three projects, the Orycheio Lakkia, Rodonas and Anargyroi 3 solar farms, in Western Macedonia in northern Greece. Heron signed separate PPAs with Meton for each project, which will each last between ten and 12 years.
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Along with these three solar projects, the joint venture company Meton is also building two other solar plants, with construction underway and expected to be fully operational by the end of Q1 2024. The five solar projects will have a combined capacity of 210MWp.
“The PPAs will enable Heron to cover part of its electricity portfolio supply needs in Greece and is another big step towards its commitment of procuring renewable electricity for its clients,” said Loukas Dimitriou, Heron general manager. “The agreement emphasises Heron’s breakthrough role in the new PPA era in Greece, which Heron has pioneered as the first utility to procure and offer long-term renewable electricity to its customers since 2021.”
Dimitriou’s comments refer to a deal signed between Heron and renewable power supplier Terna Energy in 2021, covering what the latter called four “long-term” PPAs. Terna currently operates 8.5MW of solar capacity in Greece, with plans to add more than 2GW in the future, and the deal with Meton could further decarbonise Heron’s energy mix.
The majority of the company’s power is derived from two gas-fired power plants with a total capacity of 582MW. While the Meton solar projects have a smaller potential capacity, with the Orycheio Lakkia and Rodonas projects offering a combined capacity of 128MW, the move to renewables is significant. Geographically, the investment in Western Macedonia will also shift the company’s focus away from its gas plants in the southern region of Thebes.
The deal will also bring a wide range of groups into the Greek solar sector. Meton is a joint venture combining Greek renewables firm PPC and international energy company RWE, and the group received a US$30.8 million (€28.5 million) loan from the European Investment Bank earlier this year to build the three Western Macedonia solar farms.
“We are delighted to establish long-term partnerships with front runners like Heron,” added Olaf Lubenow, head of community solutions in the UK and north and south Europe at RWE supply and trading. “These agreements are the result of full commitment on all sides and demonstrating how climate protection is possible under market conditions”.
PV Tech publisher Solar Media is extending its Large Scale Solar conference series to Southern Europe with the first edition in Athens, Greece during 4-5 July. The event will focus on an ever-growing market such as Southern Europe with a packed programme of panels, presentations and fireside chats from industry leaders responsible for the build-out of solar PV projects in Greece, Romania and Croatia. More information, including how to attend, can be read here.