PPC, Mytilineos team up for 2 GW solar project in Italy, Balkans

“The value of the deal is estimated at up to 2 billion euro ($2.14 billion) and is expected to be implemented over the next three years,” the companies said in a joint press release on Thursday.

The agreement refers to about 90 solar projects owned by Mytilineos in Italy (503 MW), Romania (516 MW), Bulgaria (500 MW) and Croatia (445 MW) which are at various stages of development.

Under the agreement, Mytilineos will handle project development and construction, with PPC acquiring the projects upon grid connection.

The agreement is a milestone for the energy transition, with the green energy projects developed under the contract expected to provide power for 320,000 households and displace 3.4 million tonnes of CO2 emissions, the companies said.

The deal is part of PPC' ambition to expand its green portfolio in southeastern Europe. It expands PPC' renewable projects beyond Romania into Italy, Bulgaria, and Croatia. The company targets 8.9 GW of installed renewables capacity by 2026.

($ = 0.937 euro)