Greece has already witnessed over $1.8bn in debt financing this year, with a significant portion of the capital directed towards the solar sector. The key drivers behind this accelerated financing include:
Elevated Power Prices: With electricity prices consistently around €100/MWh, upcoming renewable projects are poised for high revenue generation, making them attractive to investors.
Surge in PPA Popularity: The rise of corporate PPAs, with over 800 MW secured since 2023, is enhancing project bankability and accelerating the development of new renewable assets.
Strategic Coal Phase-Out: Greece's commitment to phasing out coal by 2026, combined with an ambitious target of 23.5 GW of new renewable capacity by 2030, is driving heightened demand for green energy solutions.
Notable Transactions:
– Mytilineos: Secured $438mn from the EIB for the development of a solar + battery portfolio.
– DEPA Commercial: Received $424mn from the EIB to advance solar park projects.
– Lightsource bp: Obtained $337mn from Eurobank & the Recovery and Resilience Fund for solar initiatives.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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