ContourGlobal mentioned it has acquired producing photo voltaic farms with a mixed capability of about 37 megawatts (MW) and an under-development battery power storage portfolio of 500 MW/2,000 MW hours in Greece, marking the London-based inexperienced energy developer’s entry into the nation.
“Though Greece is a comparatively small energy market in Europe with 24 GW [gigawatts] of put in capability, it’s the second-largest within the Balkan area and is experiencing speedy progress in renewables”, ContourGlobal mentioned in a press launch. “Whereas traditionally dominated by lignite and gasoline, the nation is accelerating renewable improvement, with photo voltaic and wind capability projected to achieve round 60 GW by 2060.
“On the finish of the present decade, practically 70 p.c of put in capability and electrical energy era are anticipated to come back from renewable sources, growing the necessity for versatile, grid-scale storage. Furthermore, the nation is projected to turn out to be a internet exporter of electrical energy from 2026”.
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The photo voltaic buy from QuestEnergy of Greece’s Quest Holdings comprised 26 crops commissioned between 2011 and 2022 throughout the Mediterranean nation, ContourGlobal mentioned.
“[T]he property are absolutely contracted beneath FiT (Feed-in Tariff) and FiP (Feed-in Premium) supporting schemes, offering each predictable and premium revenues”, it mentioned. “The portfolio’s anticipated yearly era is of roughly 51 GWh, sufficient electrical energy to energy as much as 15,000 Greek households per yr”.
“The acquisition of the Quest portfolio was one of many first transactions to be filed and authorized unconditionally beneath the brand new International Direct Funding (FDI) directive in Greece”, ContourGlobal added. “The FDI approval course of locations robust emphasis on the evaluation of acquisitions of vital property in power and infrastructure via overseas traders”.
Moreover ContourGlobal acquired battery power storage system (BESS) initiatives throughout the nation via transactions with Greece’s Zephiros and Spain’s Fotowatio Renewable Ventures.
“The primary mission, Taxiarches, is a 100 MW/400 MWh ready-to-build facility positioned in Thessaly, with building scheduled to start within the first quarter of 2026 and business operation anticipated by early 2027”, ContourGlobal mentioned. “This mission will probably be constructed within the Municipality of Farkadona, Regional Unit of Trikala and is about to turn out to be one of many first operational service provider BESS amenities in Greece, offering 4 hours of storage capability to assist renewables integration and grid flexibility.
“The second transaction consists of as much as 400 MW/1,600 MWh of further BESS capability throughout six initiatives. All initiatives have secured environmental approvals, key permits and have utilized for grid connection. They’re absolutely eligible beneath Greece’s Precedence Regime for BESS Tasks, launched in March 2025 to fast-track as much as 4.7 GW of standalone battery storage”.
ContourGlobal added it continues to evaluate extra improvement alternatives in Greece.
“These transactions strengthen ContourGlobal’s European platform for additional progress in renewables and battery storage, constructing on its established presence in Italy, Spain and Austria, along with reinforcing its footprint in southeastern area with Bulgaria and now Greece”, it mentioned.
Chief govt Antonio Cammisecra mentioned, “Whereas persevering with our simplification and rationalization effort, coming into the Greek market is an additional step in ContourGlobal’s ambition to turn out to be a number one impartial energy producer in renewables and power storage”.
To contact the creator, electronic mail jov.onsat@rigzone.com
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