The 267 MW ‘Consortium’ portfolio comprises four individual projects in Central Greece, developed by Hive Energy.
Hive completed the deal with international renewable energy specialist, JUWI.
The Consortium projects have reached Ready-to-Build status and construction is scheduled for the first quarter of 2024.
Global renewable energy developer, Hive Energy, has completed its first project sale in Greece. With a combined capacity of 267 MW, the Consortium portfolio consists of four individual sites across Central Greece and has been acquired by Athens-based JUWI Hellas.
The projects have been developed to Ready-to-Build status by Hive Energy, and construction by JUWI is scheduled to begin in the first quarter of 2024. Once operational, these projects will provide enough electricity to power around 100,000 homes each year.
Costas Caralis, Greek Country Manager at Hive Energy, commented: “I am incredibly pleased to complete this deal with JUWI Hellas. This is the largest project in our Greek portfolio, and we have spent the past two years developing Consortium to RTB status. Once operational, it will contribute substantially to the movement away from fossil fuels and Greece’s net-zero ambitions.”
Mike O’Neill, CEO of Hive Renewables, commented: “Hive Energy is delighted to conclude another significant transaction covering large-scale, complex renewable power projects in this important European market. We thank the team at JUWI Hellas, who have demonstrated their professionalism and expertise in the Greek renewables market in supporting to get these projects and this deal across the line.”
Greece’s existing policies outline goals to achieve net-zero by 2050. One of the key aims within the country’s National Energy and Climate Plan is to reduce Greece’s reliance on imported fossil fuels. Adoption of green energy across the region, and projects such as Consortium, will play a large role in Greece’s energy independence.
Hive Energy has recently completed photovoltaic project deals in Italy, Spain, and New Zealand, with an overall sold/completed capacity of more than 2,700 MW across seven countries. As well as the development of solar, Hive is focusing on a variety of renewable technologies, including green hydrogen and green ammonia, to support a net-zero future.
“We are very pleased to have successfully concluded this transaction with Hive Energy”, says Takis Sarris, Managing Director of JUWI Hellas. “This portfolio is one of the few in Greece at this stage of maturity and we greatly appreciate the efforts and the development work that has been carried out by Hive to this effect. JUWI has supported Hive significantly during the past months to as they advanced the projects to a ready to build status.”