Renewable Energy Finance: Greece's Solar Expansion Spearheaded by RWE and PPC's €255.4 Million Investment

published on 09 February 2024

A Bright Start: Greece's Leap into Solar Power

Greece is harnessing the sun's power to fuel its energy transition, embarking on an ambitious journey to become a beacon of renewable energy in Europe. At the forefront of this revolution, Meton Energy S.A., a joint venture between RWE and PPC, is steering the country towards a brighter, cleaner future. Their latest venture into the construction of a 450 MWp solar farm in Western Macedonia is not just a project; it's a testament to the potential of solar energy in reshaping our world.

The Solar Giant Awakens: A 450 MWp Venture in Western Macedonia

This new photovoltaic project, dubbed "Orycheio Dei Amynteo" (Amynteo Cluster III), represents a significant stride in the realm of renewable energy. Nestled in the region of Western Macedonia, the site of a former lignite mine transforms into a cradle of green energy. With construction poised to begin in the coming months and completion targeted by the end of 2025, this endeavor is a bold statement of intent. The collaborative effort between RWE and PPC is bringing to life what will be RWE’s largest solar project under construction to date, marking a pivotal moment in Greece's energy narrative.

Powering Up: Financial Foundations and Strategic Partnerships

The financial architecture underpinning this $274.974 million (€255.4 million) project is as innovative as the technology it supports. Leveraging $137.5 million (€127.7 million) from the European Union’s NextGenerationEU funds through the Recovery and Resilience Facility (RRF) plan "Greece 2.0", the project also draws on $82.4 million (€76.6 million) in commercial debt from leading Greek banks. This strategic blend of funding sources underscores the project's viability and the strong confidence in Greece's renewable energy sector. Furthermore, the signing of 10-year Power Purchase Agreements (PPA) with PPC and RWE Supply & Trading ensures a stable future for the green electricity produced.

A New Era of Clean Energy: Implications and Opportunities

The implications of Greece's solar energy surge are profound. By the end of 2025, the combined capacity of nearly one gigawatt from the Amynteo solar projects will significantly contribute to the nation's renewable energy targets. This venture not only exemplifies the fruitful partnership between RWE and PPC but also signals Greece's determined march towards an energy-efficient, sustainable future. As these solar farms light up, they illuminate the path for other nations, proving that the transition to renewable energy is not just possible but imperative.


Greece's solar energy initiative, led by the visionary collaboration between RWE and PPC, is a shining example of what can be achieved when innovation meets determination. As we move forward, let this be a call to action for communities, businesses, and governments worldwide to invest in a cleaner, greener future. Explore more about how renewable energy can transform our world and join the conversation on sustainable living. Together, we can make a difference.

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.

Click to know more about Enerdatics' Renewable Energy M&AFinancePPA, and Projects databases.

Read more