Abu Dhabi's Masdar commits to its first solar development project in Greece

Dubai: Abu Dhabi’s Masdar and Taaleri Energia will develop a 65 megawatt (MW) solar photovoltaic (PV) project in Greece. The project will be managed through the joint venture Masdar-Taaleri Generation (MTG).

This is Masdar’s first investment in Greece and will be developed by MTG alongside local partners - the Constantakopoulos family and Autohellas S.A. It is located in the region of Viotia, approximately 65 kilometers north of the capital Athens, and is at an advanced development stage. Construction is expected to be completed in 2023.

The project is expected to participate in Greece’s feed-in-tariff premium auction scheme later this year. “We look forward to working with our partners and leveraging our international expertise in clean energy projects to support the diversification of the country’s energy mix, while advancing our common climate change mitigation goals,” said Mohamed Jameel Al Ramahi, CEO of Masdar.

The solar PV plant will produce over 100 gigawatt-hours (GWh) of electricity annually. “This is a high quality project in one of the Taaleri SolarWind II fund’s key markets for solar investments,” said Kai Rintala, Managing Director of Taaleri Energia.

Masdar and funds managed by Taaleri Energia are co-investment partners in the 158MW Čibuk 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.