# Public Power Corp, RWE to build five solar farms in Greece
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-01-26
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Greece's PPC and RWE to Build Solar Farms in Ex-COal
Meta Description: PPC and RWE announce a joint investment decision to construct five solar farms in Greece, with a total capacity of 200 MW. Operational by Q1 2024.
URL: https://financedigest.com/public-power-corp-rwe-to-build-five-solar-farms-in-greecehtml

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(Reuters) – Greece’s biggest power utility Public Power Corp. (PPC) and Germany’s RWE have taken a final investment decision to build five solar farms in Greece, the two companies said on Thursday.

The farms will cost 180 million euros ($196 million) and have a total capacity of about 200 megawatts (MW).

They are [expected to be fully operational by the end](https://www.financedigest.com/sales-of-stent-graft-balloon-catheter-in-cardiac-catheterization-laboratories-are-expected-to-surpass-us-1000-mn-by-the-end-of-2022.html "Sales of Stent Graft Balloon Catheter In Cardiac Catheterization Laboratories are Expected to Surpass US$ 1,000 Mn by the End of 2022") of the first quarter of 2024, the companies said in a joint statement.

Power produced at the parks, which will be situated within a former open pit coal mine in northern Greece, will be sold to [third parties via bilateral power](https://www.financedigest.com/analysis-how-chinas-xi-accumulated-power-and-why-it-matters-in-a-third-term.html "Analysis-How China’s Xi accumulated power, and why it matters in a third term") purchase agreements of between 10 and 15 years.

RWE and PPC have set up a joint venture which is developing [large-scale solar](https://www.financedigest.com/botswana-awards-norways-scatec-first-large-scale-solar-plant-contract.html "Botswana awards Norway’s Scatec first large-scale solar plant contract") farms in Greece of a total capacity of up to 2 gigawatts.

($1 = 0.9167 euros)

(Reporting by Angeliki Koutantou; editing by Jason Neely)


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