German renewable energy developer Juwi GmbH announced the sale of a 267-megawatt (MW) solar portfolio in Greece to investment firms Foresight and Mirova. Juwi will also serve as the engineering, procurement, and construction (EPC) contractor, as well as the operation and maintenance (O&M) provider for the projects.
Juwi acquired the portfolio from UK-based Hive Energy in November 2023 through its Greek subsidiary, Juwi Hellas. Foresight and Mirova have purchased the portfolio as part of a joint venture. Financial terms of the transaction were not disclosed.
The portfolio consists of three solar farm clusters with capacities of 160 MW, 40 MW, and 67 MW, respectively. These farms will be developed in the Fthiotida and Larissa regions of Central Greece, covering a total area of 430 hectares. The installations will feature approximately 430,000 bifacial solar panels, over 800 string inverters, and around 16,000 single-axis tracking systems.
Construction is scheduled to begin in August 2024, with the commissioning of the solar complex expected in the first quarter of 2026.
Stephan Hansen, COO of the Juwi Group, stated, “Juwi currently has a pipeline of 500 megawatts of solar projects in various stages of development in Greece. With the combined capacity of 267 megawatts, the Foresight and Mirova solar portfolio will be the largest in our history. This underlines our role as one of the leading project development companies in selected foreign markets.”
Once operational, the solar farms are projected to generate around 515 million kilowatt-hours of electricity annually, sufficient to meet the power needs of more than 100,000 Greek households.
