Announcement – Regulated information
February 8, 2024
PPC S.A. following its announcement dated 31.07.2023, informs the investor community that, the joint venture company Meton Energy S.A., in which RWE Renewables Europe and Australia and PPC Renewables participate with 51% and 49%, respectively, has taken the final investment decision for the construction of an additional photovoltaic project in the country. This solar farm, which is now entering the construction phase, is the last project of the 940 MW Amynteo portfolio.
The new solar farm “Orycheio Dei Amynteo” (Cluster III) with a total capacity of approximately 450 MW is located in Western Macedonia in Northern Greece, within the boundaries of the former Amynteo open pit lignite mine. Construction is scheduled to start in the coming months with commissioning expected by the end of 2025. The joint venture is already constructing eight large-scale solar projects (Clusters I & II) in the region, with a total capacity of 490 MW, which are expected to be connected to the grid this year.
The project company Meton Energy S.A. has signed 10-year bilateral Power Purchase Agreements (PPA) with PPC and RWE Supply & Trading, which will purchase the green electricity produced by the new solar farm.
For the €255.4 m investment in “Orycheio Dei Amynteo”, €127.7 m of the European Union – NextGenerationEU funds have been secured via the Recovery and Resilience Facility (RRF) plan “Greece 2.0”. The remaining amount is being financed through a €76.6 m commercial debt financing to be provided pro-rata on a club-deal basis by Alpha Bank S.A., Eurobank S.A. and National Bank of Greece S.A., as well as shareholders’ equity of €51.1 m. The financing is subject to financial close.
For further information please contact:
Investor Relations Department
30, Chalkokondyli str., 104 32 Athens
Τ: +30 210 529 2153
+30 210 529 3665
+30 210 529 3207
The announcement may be accessed on the website of Public Power Corporation S.A. (
www.ppcgroup.com) at the “Investors Relations” section.