Masdar and Taaleri Energia, a Finnish renewable energy developer plan to develop a 65 MW solar project in Greece through their joint venture for Central and Eastern Europe, Masdar-Taaleri Generation (MTG). The project will be locatedin the Viotia region, which is about 65 km north of Athens, and will be co-developed with local partners: the Constantakopoulos family and Autohellas.
The project will also participate in the feed-in-tariff premium auction scheme of Greece which is scheduled for late 2021. Development is expected to be completed in 2023. Once in operation, the solar plant is expected generate more than 100 GWh of electricity per year.
The project is UAE renewable energy firm Masdar’s first investment in Greece. However, it aligns with Masdar as well as Greece’s targets. Masdar aims to double its renewable installed capacity from 11 GW in two to three years. Meanwhile, Greece plans to source 35 per cent of its electricity from renewables by 2030.
The Masdar-Taaleri joint venture MTG was launched in January 2019 and is a development vehicle for renewable energy projects in Central and Southeastern Europe. Masdar and funds managed by Taaleri Energia are co-investors in the 158 MW ibuk 1 wind farm in Serbia, and recently acquired an equal share in two ready-to-build wind farms in Poland, the 37.4 MW Mlawa Wind Farm and the 14 MW Grajewo Wind Farm. In the Middle East, the two companies have jointly invested in the development and construction of the Baynouna Solar Energy Project, a 200 MW solar PV plant in Jordan.