As part of its strategic planning for significant expansion of renewable energy sources – both in Greece and abroad – MYTILINEOS has announced the acquisition of a portfolio of 20 solar photovoltaic (PV) farms which are in progress with a total capacity of 1.48 GW, and owned by EGNATIA GROUP.
The entire portfolio has been included in the fast-track process. It is estimated that construction will be completed by the end of 2023.
In addition, the company will acquire a pipeline portfolio of 21 battery energy storage projects, as well as four additional battery energy storage projects combined with solar parks, all developed by EGNATIA GROUP.
MYTILINEOS is leading the way by heavily investing in energy storage, as it is a key parameter for successful energy transition and for the optimisation of renewable energy operation. By developing storage projects, the company seeks to create a broad portfolio of power generation plants with advanced capabilities and flexibility, as required for the future energy companies.
The total cost for MYTILINEOS for both the solar PV and storage portfolio stands at €56 million.
In another ‘first’, the Greek energy company has contracted a Power Purchase Agreement (PPA) of 200 MW capacity, from solar parks owned by EGNATIA GROUP, for €33/MWh and for a period of 10 + 5 years. This PPA is expected to take effect during 2023.
With the new capacity additions, MYTILINEOS’ expansion is becoming more dynamic and pluralistic.
The company’s green portfolio now consists of:
Renewable energy sources in Greece (wind farms, solar farms, small hydroelectric plants)
- 1480 MW at a mature licensing stage.
- 300 MW at the stage of operation, construction or ready to build.
- 100 MW for Final Investment Decision (FID) at the end of 2021.
Renewable energy sources abroad (solar farms)
- 400 MW at the stage of construction, 120 MW of which are expected to be completed and start commercial operation in 2Q2021.
- 501 MW ready to build.
- 362 MW ready to build at the end of 2021/beginning of 2022.
- 4000 MW at an initial or intermediate licensing stage.
- Pipeline of 25 electricity storage projects.
- 200 MW in a signed PPA with a third party, at a mature licensing stage.
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