Southern Europe potential lures DWH to Greek PV pipeline

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Greece's PV industry has flatlined for six years but this year's auctions could speed up deployment (Credit: Juwi)

German investor Deutsche Werte Holding (DWH) stands to benefit to the tune of hundreds of millions of euros after becoming a shareholder of a Greek PV specialist.

The Berlin-based holding has acquired an undisclosed stake in Maximus Terra and will now help the Thessaloniki firm deploy a solar pipeline.

The deal brings DWH closer to Maximus Terra’s 1.36GW worth of renewables assets, either finalised or under construction. The portfolio features wind, biomass and biogas plants but according to DWH, it is “especially interested” in a 200MW PV pipeline that should break ground “very soon”.

The total splits into two 100MW projects, Xanthi in northeast Greece and Florina in the northwest. As the German holding noted in a statement, the plant duo will carry licensing fees of around €100,000 (US$111,681) per MW but this will be more than offset by the annual €2 million (US$2.23 million) turnover expected from every 25MW of solar.

“[There is an] option to either realize a significant short-term profit, or to construct and maintain the PV parks themselves,” DWH explained. The latter option, the firm added, would unlock some €340 million (US$379.75 million) in turnover.

Consultancy Mazars audited Maximus Terra prior to DWH’s investment and will now probe all aspects of the renewable pipeline. Budgets, time frames, financing, land area permits and grid agreements will all be scrutinised going forward, the German holding explained.

DWH chair René Pernull linked the Greek deal to “highly attractive” conditions across Spanish, Greek and Italian renewables, markets all DWH is currently eyeing for what Pernull described as “lucrative opportunities”.

IRENA stats indicate Greece's PV industry has flatlined around the 2.5GW-2.6GW capacity mark over the past six years. Deployment looks set however to speed up via a busy tendering schedule this year, with a technology-neutral auction in April set to follow with a 430MW solar-only exercise on 1 July.

Read Next

May 7, 2021
Danish utility giant Ørsted has completed its first utility-scale solar-plus-storage facility in the US.
May 5, 2021
Europe’s solar industry has lauded the inclusion of a commitment to "re-ignite" Europe's solar manufacturing sector within the European Commission’s refreshed industrial strategy.
PV Tech Premium
May 3, 2021
Companies are purchasing solar, wind, and other forms of renewable energy more than ever before. The power purchase agreement (PPA) market in Europe has grown to a cumulative capacity of over 12GW, with a record 4GW signed in 2020. Corporate climate commitments are opening doors for investment in renewable energy, and continued price declines are convincing companies to sign new contracts. Is the European market ready to fulfil its potential? By Dr. Mercè Labordena, senior policy advisor at SolarPower Europe, and Milena Koot, communications advisor at SolarPower Europe
April 28, 2021
Renewable energy group BayWa r.e. has opened what it claims is its largest PV warehouse in Europe yet in a bid to expand its distribution network in the continent.
April 21, 2021
International renewables developers are rushing to secure projects in Brazil before the government takes away subsidies for new solar and wind farm installations next year.
April 13, 2021
European solar investors are coming to terms with smaller returns, however banks, governments and grid operators could do more to help alleviate risk and ease investor concerns.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021