MVV subsidiary Juwi sells 267 MW PV portfolio to Foresight and Mirova, signs EPC and O&M contracts in Greece
Juwi GmbH, a wholly-owned subsidiary of MVV Energie AG, has signed an agreement with Foresight and Mirova for the sale of a 267 MW PV portfolio in Greece – Following the M&A completion, Juwi was appointed as the EPC and O&M contractor – Construction is scheduled to start in August 2024
In November 2023, Juwi Hellas had acquired a PV portfolio with a capacity of 267 megawatts (MW), consisting of three clusters (160 MW, 40 MW and 67 MW), from Hive Energy Ltd. The projects that have now been sold to Foresight and Mirova are located in the regional units of Fthiotida and Larissa, Central Greece, around 300 kilometers north of Athens. Juwi will implement the project portfolio as an EPC service provider and is therefore responsible for the technical design (engineering), component purchasing (procurement) and construction. Construction is scheduled to start in August 2024, and commissioning is planned for the first quarter of 2026. Following commissioning, Juwi will take over the technical operation and maintenance (O&M) of the projects.
PV portfolio will provide clean electricity for more than 100,000 Greek people
A total of around 430,000 bifacial solar modules and over 800 string inverters will be installed in the projects in the former Hive portfolio. Around 16,000 single-axis tracker systems for tracking the system's daily course of the sun are intended to ensure that the PV systems generate a total of around 515 million kilowatt hours of clean electricity per year. This roughly corresponds to the electricity requirements of more than 100,000 Greek people. The solar park area covers around 430 hectares and is therefore the size of over 600 football fields.
Internationally expanding renewable energies
With the Hive and Foresight-Mirova transaction and the resulting assignment, MVV’s project development company Juwi has successfully and repeatedly benefited from its well-established diversified business strategy which includes both in-house development and acquisition of mature project rights: More recent examples are the 204 MW solar park in Kozani, Greece, and the 223 MW “Pike” solar park in Colorado, USA.
“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”, adds Stephan Hansen, COO of the Juwi group and responsible for the international business.
“We are very pleased that we’ve managed to sell the portfolio to Foresight and Mirova and sign the EPC and O&M contracts”, comments Takis Sarris, Managing Director of Juwi Hellas. “We are confident that, as always, we will deliver state of the art projects.”
For Foresight, Diomidis Dorkofikis, Partner, says: “We are delighted to make this investment in Greece's renewable energy sector. The joint venture with Mirova brings together considerable expertise and resources and it’s been a pleasure to work with Juwi on this transaction. This investment aligns with our vision of supporting sustainable and profitable energy infrastructure projects. We look forward to witnessing the positive impact this will have on both the Greek energy market and our investors.”
For Mirova, Helene Dimitracopoulos, Investment Director, emphasizes: “We are thrilled to complete Mirova’s third investment in Greece with MET5, reinforcing our commitment to the Energy Transition in Greece. Mirova and Foresight expertise and ambitious aligned seamlessly for this transaction. We have trusted Juwi for its unique global and local experience both as a developer and EPC contractor. Domokos project is a landmark project for Greece ‘s journey towards a greener future and we deeply thank Juwi and Foresight for our excellent collaboration.”
For both transactions with Hive and Foresight-Mirova, Juwi Hellas worked together with the esteemed law firm Karatzas & Partners, while Mirova and Foresight were supported by Zepos &Yannopoulos as legal advisors. “We dearly thank both firms for their hard work and commitment”, adds Takis Sarris.
Press contact
Juwi GmbH
Christian Hinsch
Press Spokesperson
T +49 6732 96 57-1201
hinsch@juwi.de
www.juwi.de
