UAE – Mubasher: The Abu Dhabi-based Masdar has partnered with Taaleri Energia, a Finland-based wind and solar developer and fund manager, to develop a 65-megawatt (MW) solar photovoltaic (PV) project in Greece.
The project will be managed by the companies’ joint venture Masdar-Taaleri Generation (MTG), according to a press release on Thursday.
To be established by MTG alongside local partners, the Constantakopoulos family, and Autohellas, the project is Masdar’s first investment in the Greek market.
The construction of the solar PV project, which will participate in Greece’s feed-in-tariff (FiT) premium auction scheme in late 2021, is forecast to be completed in 2023.
Upon its completion, the plant will generate more than 100 gigawatt-hours (GWh) of electricity annually.
The Ambassador of the Hellenic Republic to the UAE, Dionyssios Zois, said: “We hope that this agreement will pave the way for additional Emirati investments in Greece, either from Masdar or other UAE entities.”
Meanwhile, the Ambassador of the UAE to the Hellenic Republic, Hamed Salem AlMazroui, remarked: “We are pleased to support the country’s climate change efforts and contribute to their goal of producing 35 percent of their energy mix from renewables by 2030.”