RWE and PPC partnership to turn Greece to renewable energy sources

The two energy companies have signed a 2 GW solar deal

Last week, the German multinational energy company RWE announced that it has formed a Joint Venture with PPC, the biggest electric power company in Greece. Together, the two groups seek to realise renewable energy projects that will help accelerate the Mediterranean country’s energy transition.

Photovoltaic projects

In a press release, RWE revealed that the two companies will focus on developing large-scale photovoltaic projects with a total capacity of up to 2 gigawatts (GW). PPC will reportedly contribute 9 projects with a combined total of up to 940 megawatts in northern Greece’s west Macedonia region. Taking this further, Germany’s RWE has also secured a solar project of a similar size.

Each of the photovoltaic projects is at a different stage and are therefore expected to begin operating at different times. Expanding on this, the more advanced projects can begin operating in 2023, with others following in 2025.  

European collaboration is crucial

Both energy groups expressed their delight with the strong partnership, acknowledging the importance of such projects and European collaboration. Katja Wünschel, COO Wind Onshore and Solar Photovoltaics Europe and Asia-Pacific of RWE Renewables, commented on the joint venture:

“European collaborations, like our partnership with PPC, are essential to making the energy transition happen. Greece is a promising growth market for us, with its high solar energy levels and clear commitment to renewables.

As one of the world’s leading renewable energy companies, we will contribute significantly with our experience and knowledge to ensure this cooperation is a success. Growing new renewable energies is the clear focus for RWE.”

It must be noted that this collaboration will mark RWE’s first entry into the Greek energy market. The German company’s expertise in engineering, financing, construction, and the operation of solar projects will perfectly complement PPC’s knowledge of the Greek market.

Together, the two energy groups will create opportunities for growth and development in Greece. More importantly, they will help the country turn to renewable energy sources and accelerate its energy transition.