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Greece finalizes photovoltaic power tender with record-breaking €0.04911kWh tariff

Updated: May 26, 2020

Greece has held its latest round of renewable energy tenders to procure new solar and wind power capacity in separate auctions in Athens. The photovoltaic tender resulted in a record-breaking tariff of €0.04911/kWh for a 200 MW solar project that will be built in Ptolemaida, a mining region in Greece’s Macedonia region.

Athens, Greece: 3 April 2020

Greece's Public Power Corporation (PPC), through its subsidiary PPC Renewables, successfully bid for 230 MW of photovoltaic power production agreements. This includes a 200 MW solar power plant in Ptolemaida, a mining region in Greece's Macedonia region. PPC Renewables won the tender with the lowest production tariff on record in Greece so far: €0.04911/kWh. The installation will serve as the starting point of a broader plan to develop an additional 3 GW of PV capacity in the country’s mining regions.

EMV, which is backed by France’s Electricite de France (EDF), offered a rate of €0.05068/kWh – the tender’s second-lowest tariff – for a 70 MW solar project in the municipality of Evrotas, on the Peloponnese Peninsula.

Heliothema Energy also won a contract to build a 42 MW solar park for €0.05087/kWh in Thiva, central Greece. The tender’s fourth-lowest bid, at €0.05464/kWh, applies to a 153 MW wind farm that will be built in northern Greece.

Greece’s Panagakos Group, meanwhile, offered the round’s highest successful tariff, at €0.05482/kWh, for a string of PV parks that will be developed by two companies, Spes Solaris 3 and Spes Solaris Solar Concept.All nine PV projects, totaling 75.88 MW of capacity, will be compensated at a tariff rate of €0.05482/kWh. The biggest of the nine installations is a 38 MW PV project.

Greece’s photovoltaic power generation system has driven a steady reduction in tariffs, which will benefit Greek electricity consumers and the national economy. More importantly, it has also cultivated a competitive environment for domestic companies, as they now need to set competitive strategies to beat international players in the Greek market.

Navigator Consulting provides due diligence, investment planning and investment monitoring of energy storage and renewable energy investments. Our expertise includes projects implemented in renewable energy and energy storage, including solar power installations, wind power installations, hydropower installations and energy storage units.

For further information, please contact:

Philip Ammerman

Managing Director


PPC Renewables. 08 April 2020

PV Magazine. 03 April 2020


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