Greek renewables developer Mytilineos has signed a 210 MW solar photovoltaic long-term power purchase agreement (PPA) with packaging manufacturer Karatzis.
Developed by Karatzis, with a budget of 180 million euros, the electricity offtake will come from a solar portfolio of 35 projects located in the central Greek prefecture of Larissa. Mytilineos will be able to offtake 80% of the energy produced from the 262 MW solar portfolio.
Construction of the plants has been awarded to Mytilineos’ subsidiary Mytilineos M Renewables. The projects are expected to be operational within the third quarter of 2024.
This is the second PPA signed by Mytilineos in Greece, after an offtake agreement with utility EDP Renewables in February 2023.
Moreover, the renewables developer secured funding from the European Investment Bank earlier this year to support the solar and battery storage development plans of the company. The €400 million commitment aims to support the development of a 2.6GW portfolio across the EU through 2027.
Outside of Europe, the company reached a financial close in January 2024 for a portfolio of 588 MW solar PV across Chile, including in the solar hotbed regions of Antofagasta and Atacama.
