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RWE enters Greece via solar JV with Public Power Corp By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The German power supply company RWE’s headquarters is shown in Essen, Germany on April 24, 2018. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT, (Reuters) – RWE, Germany’s largest power producer on Thursday announced that it had formed a joint venture. Public Power Corporation (PPC), (AT:), will focus initially on the realization of solar projects in Greece worth as high as 2 gigawatts.

RWE’s 51-49 joint venture in Greece is RWE’s first entry into that market. The company stated, noting both companies had committed to keeping financial details confidential.

Katja Wuenschel is chief operating officer of RWE Renewables’ onshore and solar PV Europe as well as Asia-Pacific.

RWE’s clear focus is on the cultivation of renewable energy.

PPC will provide nine solar projects totaling 940 megawatts. They are located in the west Macedonia area of northern Greece. RWE Renewables secured similar-sized projects for this venture.

RWE reported that projects at different stages are being developed, with more advanced ones expected to begin operations by 2023. Less-developed may start operations two years later.

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