JUWI, a renewable energy project developer and wholly owned subsidiary of MVV Energie, announced the sale of a 267 MW solar portfolio in Greece to Foresight and Mirova, a Paris headquartered asset management company. The construction of the projects is expected to begin in August 2024.
The portfolio comprises three solar projects with an individual capacity of 160 MW, 40 MW, and 67 MW. JUWI acquired the portfolio from Hive Energy in November 2023. The projects are located in the regional units of Fthiotida and Larissa, Central Greece, about 300 km north of Athens.
In addition, JUWI will serve as the engineering, procurement, and construction (EPC) and operations and maintenance (O&M) contractor on the portfolio. The portfolio will feature around 430,000 bifacial solar modules, over 800 string inverters, and 16,000 single-axis tracker systems.
“We are very pleased that we’ve managed to sell the portfolio to Foresight and Mirova and sign the EPC and O&M contracts,” comments Takis Sarris, Managing Director of Juwi Hellas.
The projects’ commercial operations are scheduled for the first quarter of 2026. JUWI will take over the projects’ technical operation and maintenance (O&M) after their commissioning.
Once operational, the projects will produce about 515 million kWh of clean electricity annually, enough to cater to the electricity requirements of over 100,000 Greek people.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were transacted in 1H 2024, compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Last week, Enel Green Power Australia (EGPA), a joint venture company co-owned by Enel Green Power and INPEX Renewable Energy Australia, announced the acquisition of the Tallawang hybrid project, which comprises 500 MW of solar PV and 500 MW/1,000 MWh energy storage system. EGPA acquired the solar-plus-storage project from RES, a U.K.-based renewable energy project developer.
