Hive Energy Ltd. has obtained Binding Connection Terms for three solar projects in central Greece. The three projects have a nominal power of 40 MW, 100 MW and 60 MW. The projects are now ready to participate in tender procedures, or to conclude a private PPA.
Hive has projects with a total capacity of 617MW in Greece, at various stages of development: 467 MW in photovoltaics, 100MW in storage and 50 MW in green Hydrogen, all of them having already obtained Environmental Assessment approvals.
Securing the grid connection capacity for three projects is a significant achievement as this phase is notoriously challenging in the Greek market. The power produced by these three solar projects will be enough to power roughly 34,000 households, saving 150,000 Co2 every year. Now the grid connection capacity has been secured, the next step for these plans includes the issuance of installation license to initiate construction of these projects, this will take place in the second quarter of 2022. Further to these three projects, Hive Energy has an additional 267 MW of Solar developments available for investment, totalling 467 MW. More new projects are in the process of joining the pipeline.
Giles Redpath, CEO of Hive Energy Ltd, stated: “It is a fantastic achievement to have the grid connection capacity secured for those three projects in Greece. Greece is a tough market for green energy and Constantinos has done an exceptional job progressing the developments. Securing grid connection for 200 MW in Greece is a huge accomplishment and we are expecting another 67 MW to obtain connection terms shortly. We hope that these three projects will boost our positioning in the green energy market in Greece and allow us to continue on our mission of harvesting the power of the sun.”
Constantinos Caralis, Managing Director of Hive in Greece, commented on the progression: “Greece is a strategic market for Hive. In Greece we are developing and implementing solutions aimed at the circular economy, taking advantage of our know-how from other markets where we operate. The business environment in Greece has been shaped in recent years, in combination with the goals set by the government for the transition to a green economy. This has created perfect conditions for us to invest and implement sustainable solutions that contribute to a cleaner environment for the country.”