A year after entering the Greek solar market, Cero Generation has achieved financial closure for a 100 MW solar power plant in the country calling it the 1st PV project in Greece to have secured a private power purchase agreement (PPA), ensuring it is developed subsidy-free.
"The project – known as Delfini – will be the first solar project in Greece with a private Power Purchase Agreement (PPA), providing subsidy-free revenue certainty for the asset and offering final consumers immediate access to cheaper, clean energy," stated Cero, an independent portfolio company of Macquarie's Green Investment Group (GIG) (see New Joint Venture Partnership For 750 MW Solar In Greece).
Cero did not specify more details about the project, but stated that the company has a sizeable development pipeline in Greece with extensive further growth planned. Its overall European solar development portfolio adds up to 9 GW, comprising both utility scale and on-site generation projects along with integrated energy storage solutions.
At the end of June 2022, the Regulatory Authority for Energy (RAE) announced the decision to hold a renewable energy auction for 1 GW wind and solar energy in September 2022. Balkan Green Energy News said the Greek Energy Ministry plans to conduct 4 renewable energy auctions in 2022 of which the 1 GW September auction will be the 1st joint auction for wind and solar power followed by another for 600 MW capacity. There will be another pilot auction for 200 MW wind and solar paired with energy storage.
Yet another auction will be for small scale PV of up to 1 MW capacity with a total of 100 MW to be offered.
At the end of 2021, the aggregate solar PV capacity of Greece exceeded 4 GW with the addition of 838 MW in 2021 (see Greece Installed 838 MW New Solar In 2021).