Energy giants RWE and PPC are advancing Greece’s clean energy transition through their joint venture, Meton Energy, which has made a final investment decision to proceed with the construction of two large-scale solar projects in Central Macedonia. The Kotyli and Neo Syrakio solar plants will have a combined capacity of 567 MW and are expected to begin construction in the spring, with completion slated for 2027. Once operational, the plants are set to generate enough electricity to power over 140,000 homes annually.
Meton Energy has secured 10-year Power Purchase Agreements with PPC and RWE Supply & Trading for the sale of the solar energy generated. The total investment in the projects amounts to 418 million euros, with 175 million euros funded by European Union resources through the Greece 2.0 Recovery and Resilience Facility under the NextGenerationEU initiative. The remaining investment is covered by 169 million euros in commercial loans and shareholder capital.
The partnership between RWE Renewables, which holds a 51% stake, and PPC Renewables, with a 49% stake, has already led to the activation of five solar power plants totaling 210 MW. A sixth project, which will increase the combined capacity to 315 MW, is completed and awaiting network connection. Additionally, three more solar projects, with a combined capacity of 625 MW, are set to be operational by the end of 2025. These nine projects, located in Western Macedonia on the site of the former Amynteo lignite mine, will bring a total of 940 MW of solar capacity online.
