Solar developer Lightsource bp has secured €315.34 million (US$337.5 million) for a 560MWp solar PV project in Greece.
Located in Larissa and Fthiotida, the Enipeas solar project will consist of two different sub-areas, including a 400MWp southern cluster and a 160MWp northern cluster with about 970,000 modules installed.
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The project will connect to the grid in 2026. In the first year of operation, the project will generate 0.90TWh of power.
Additionally, the project will require a total investment of €395.15 million, which falls under the Green Transition pillar of the Recovery and Resilience Fund (RRF). The financing of the project includes the granting of a long-term loan of €315.34 million, consisting of borrowed funds amounting to €170 million from RRF resources and financing of €145.34 million by Eurobank.
The remaining 20% of the investment, totalling €79.82 million, will be covered by Lightsource bp’s own funds.
Lightsource bp entered the Greek market in 2020 and has since developed a more than 1GW of portfolio of solar and energy storage projects.
On that note, the European Commission approved a €1 billion Greek state aid measure to support two solar-plus-storage projects earlier this month.
Consisting of two solar PV projects co-located with storage, the first one is the Faethon Project, comprising two solar plants of 252MW of capacity each and will be integrated with molten-salt thermal storage units, along with an extra-high voltage substation. The other project, the Seli Project, will have 309MW of solar PV capacity and an integrated lithium-ion battery energy storage system (BESS).
| PV Tech publisher Solar Media will be organising the second edition of Large Scale Solar Southern Europe in Athens, Greece during 2-3 July 2024. 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, Turkey and Croatia. For more information, including how to attend, please go to the official website. |